Beef exports slump in August amid China standoff - USMEF
Shipments fall to lowest level since 2020 as key market closes
USDA has released August red meat export data, which was delayed due to the lengthy government shutdown. As compiled by the US Meat Export Federation (USMEF), August data showed beef exports were sharply lower than a year ago, impacted heavily by an impasse with China that has effectively locked US beef out of the world’s largest import market.
August beef exports totaled 83,388 mt, down 19% from a year ago and the lowest since June 2020. Export value fell 18% to $695.5 million, the lowest since February 2021. While exports to China plummeted, shipments were fairly steady to leading market South Korea and trended higher than a year ago to the Caribbean and Central and South America.
For January through August, beef exports were 9.5% below last year at 775,188 mt, while value declined 9% to $6.37 billion.