Strong January for U.S. pork exports, gradual begin for beef
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U.S. pork exports, which posted a powerful end in 2022, maintained momentum in January, in response to information launched by USDA and compiled by the U.S. Meat Export Federation. U.S. beef exports have been record-breaking in 2022 however slowed late within the yr. This development continued in January, as shipments have been nicely beneath the big totals from a yr in the past.
January pork exports totaled 236,767 metric tons, up 13% year-over-year, whereas export worth climbed 16% to $643.4 million. Exports to Mexico, which completed 2022 on a outstanding run on the best way to an annual document, set one other quantity document in January. Exports additionally trended considerably increased year-over-year to China/Hong Kong, Japan, Canada, the Dominican Republic, Colombia, Honduras and the ASEAN area.
“Whereas Mexico is actually the pacesetter for U.S. pork exports, it is encouraging to see such broad-based development,” mentioned USMEF President and CEO Dan Halstrom. “Market diversification is all the time some extent of emphasis for the U.S. business, and it is extra vital than ever to seek out new alternatives for U.S. pork in each established and rising markets.”
Beef exports declined to a number of main locations in January, although shipments elevated sharply to Mexico, the Dominican Republic, the Philippines and Africa. January quantity fell 15% year-over-year to 100,942 mt, valued at $702.3 million (down 32%).
Beef inventories swelled in some key markets close to the tip of final yr, contributing to a difficult setting for U.S. exports.
“Whereas beef exports are off to a gradual begin in 2023, we stay optimistic that post-COVID foodservice demand will strengthen in extra markets because the yr progresses,” Halstrom mentioned.
January exports of U.S. lamb muscle cuts totaled 222 mt, up 161% from the low year-ago quantity, whereas export worth basically doubled to $1.1 million (up 99%). Development was led by robust will increase to Mexico and the Caribbean, whereas shipments have been additionally increased to Canada and Guatemala.
An in depth abstract of the January export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is accessible from the USMEF website.
