US beef exports slow in November - USMEF
Exports down 14% over last year
19 January 2024
1 minute read
By: US beef exports slowed in November, recording the third lowest value of 2023, according to data released by USDA and compiled by the US Meat Export Federation (USMEF).
Beef exports totalled 99,029 mt in November, down 14% from a year ago and the second lowest of the year, while value fell 7% to $786.2 million. For the first 11 months of the year, beef exports were 13% below the record pace of 2022 at 1.18 million mt, while value declined 17% to $9.11 billion.
“There are certainly bright spots for US beef, with exports rebounding in Mexico and demand in several Western Hemisphere markets the strongest we’ve seen in years,” said USMEF President and CEO Dan Halstrom. “But economic conditions in our largest Asian markets and the sharp rebound in Australian production and exports have been persistent obstacles over the past year, making it a sharp contrast with the tremendous 2022 performance for US beef exports."
"Despite these challenges, we still see sustained demand for chilled US beef, and the US remains the dominant supplier of chilled beef entering Korea, Japan and Taiwan," Halstrom added.
