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March exports of U.S. pork were among the largest on record, concluding a very strong first quarter, according to data released by USDA and compiled by the U.S. Meat Export Federation. While March beef exports were below last year – largely due to the ongoing lockout by China – the value of beef variety meat shipments reached a new monthly high, surpassing the previous record from January.
“The sustained momentum for U.S. pork exports is impressive in the Western Hemisphere, but it is also encouraging to see demand climbing in key Asian markets, led by a welcome rebound in Japan,” said USMEF President and CEO Dan Halstrom. “On the beef side, while China has now been absent for more than year, the U.S. industry is making strides in other markets. The supply situation makes it difficult to grow export volumes, but exports are commanding strong prices. Expanding beef variety meat demand is especially critical, as this makes such a key contribution to the value of every animal.”
March beef exports totaled 97,731 mt, down 11% from a year ago, while value fell 8% to $844.7 million. Shipments increased year-over-year to Mexico, Central and South America, the Caribbean and Indonesia, and were steady to Korea and Taiwan. But these results were offset by minimal exports to China, and exports were also below last year to Japan and the Middle East. Excluding China, March exports were 4% above last year’s volume and increased 8% in value.
The March export results included 29,062 mt of beef variety meat, up 24% from a year ago and the largest since 2017. Variety meat export value increased 50% to $135.6 million, the highest on record.
March was a very robust month for per-head export value, which equated to $456.56 per head of fed slaughter.
Through the first quarter, beef and beef variety meat exports totaled 275,355 mt, down 11% from a year ago, while value fell 7% to $2.35 million. Excluding China from these results, exports were 3% higher than a year ago in volume and increased 9% in value.
Pork exports totaled 285,567 metric tons (mt) in March, up 6% from a year ago, the largest in five years and the third largest on record. Export value increased 4% to $803.2 million, the second highest on record, trailing only April 2021. March exports increased year-over-year to leading market Mexico, as well as to Japan, Central America, the Dominican Republic, the Philippines and Taiwan.
USMEF news release
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