Led by another outstanding month in Mexico, exports of U.S. pork continued to gain momentum in May, according to new data released by the U.S. Department of Agriculture (USDA) and compiled by the U.S. Meat Export Federation (USMEF). As for beef exports for that same month, while well below the record-large volume and value posted in May 2022, they improved from April and were the second largest 2023 behind March totals.
May pork exports reached 261,361 metric tons (mt), up 16% from a year ago, the ninth largest on record and the largest since May 2021. Export value climbed 12% to $731.1 million, also the highest since May 2021 and the seventh highest on record.
USMEF President and CEO Dan Halstrom explains how a wide range of markets contributed to the growth in pork exports.
Beef exports totaled 116,159 mt, down 14% from the May 2022 record but up 4% from the previous month. Export value was $874.7 million, down 19% year-over-year but 2% above April. May beef exports strengthened to Mexico, Taiwan and South Africa, and export value to Canada was the highest in nearly eight years.
For January through May, beef and beef variety exports were down 10% to 554,069 mt, valued at $4.09 billion (down 21%).
May Pork Exports Highest in Two Years; Beef Exports Below Record-Large, Year-Ago Totals
(USMEF/July 7, 2023) —Led by another outstanding month in Mexico and robust demand for variety meat, exports of U.S. pork continued to gain momentum in May, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While well below the record-large volume and value posted in May 2022, beef exports improved from April and were the second largest (behind March) of 2023.
May pork exports reached 261,361 metric tons (mt), up 16% from a year ago, the ninth largest on record and the largest since May 2021. Export value climbed 12% to $731.1 million, also the highest since May 2021 and the seventh highest on record. Pork variety meat exports were particularly outstanding in May, setting a value record of $127 million.
Through the first five months of the year, pork and pork variety meat exports were 14% above last year’s pace at 1.22 million mt, valued at $3.35 billion (up 13%).
“While pork shipments to Mexico are on a remarkable pace, it takes a wide range of markets to achieve double-digit growth,” explained Dan Halstrom, USMEF president and CEO. “Demand is strong throughout the Western Hemisphere and the U.S. industry continues to make gains in Asian markets where supplies of European pork are much tighter than a year ago.”
Beef exports totaled 116,159 mt, down 14% from the May 2022 record but up 4% from the previous month. Export value was $874.7 million, down 19% year-over-year but 2% above April. For January through May, beef exports were down 10% to 554,069 mt, valued at $4.09 billion (down 21%).
“U.S. beef exports face considerable headwinds in 2023, on both the supply and demand side, especially when compared to last year’s massive totals,” Halstrom said. “To address tighter beef supplies, USMEF has heightened efforts to showcase underutilized cuts, even in our well-established markets. It’s also encouraging to see beef variety meat exports maintain a strong pace, as this is essential for maximizing carcass value.”
Record value for pork variety meat highlights May export growth
Pork exports to leading market Mexico remained on a record-shattering pace in May, soaring 21% from a year ago to 96,811 mt and climbing 16% in value to $198.9 million. This pushed January-May export volume to 447,081 mt, up 13% from a year ago, while value increased 24% to $890.1 million. While most pork shipments to Mexico are muscle cuts – either for further processing or as featured items in Mexico’s retail and foodservice sectors – Mexico’s demand for pork variety meat has also strengthened this year. Through May, variety meat shipments increased 46% to 64,232 mt, valued at $111.4 million (up 40%).
May pork exports to South Korea totaled 21,182 mt, up 25% from a year ago. Export value increased 21% to $73.4 million, the highest in more than five years and the fourth highest on record. Through May, exports to Korea climbed 15% year-over-year to 87,577 mt, valued at $283.5 million (up 6%). U.S. pork, which enters Korea at zero duty under the Korea-U.S. Free Trade Agreement, has achieved this growth despite an influx of Canadian, Mexican and Brazilian pork, which have benefited from Korea’s recent implementation of duty-free import quotas. Korea’s January-May imports of pork from the EU were down 23%, and this decline was not fully offset by strong growth from the U.S., Canada, Mexico and Brazil.
As noted above, exports of pork variety meat reached a record $127 million in May, up 24% from a year ago. Export volume was 51,826 mt, up 27% and the ninth largest on record. January-May variety exports are on …..
Read the full detailed summary of the January-May export results for U.S. beef, pork and lamb is available from the USMEF website.