US beef export value climbs - USMEF
Beef export volumes slightly lower than last year
19 March 2024
1 minute read
By: While January US beef exports were slightly below last year’s volume, export value trended significantly higher, according to January data released by USDA and compiled by USMEF.
January beef exports totalled 99,764 mt, down 1% from a year ago. But export value climbed 9% to $763.8 million, as value trended higher year-over-year to South Korea, Japan, Mexico, Canada, Central America, the Caribbean and Hong Kong.
“While USMEF expects 2024 to be another challenging year in terms of beef supply availability, the upward trend in export value is a positive sign,” said USMEF president and CEO Dan Halstrom. “The inventory has been cleared and customers in Asia are reloading on US beef."
"There is also more optimism in Asia’s foodservice sector, especially in Korea," Halstrom added. "Combined with the recent strength we’ve seen in the Western Hemisphere, this bodes well for beef demand in the coming year. January was also an excellent month for beef variety meat exports, which are especially important for maximizing the value of every animal."
