April exports of U.S. pork achieved features in a variety of markets, based on knowledge launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports, alternatively, have been beneath the very massive totals posted a yr in the past, however export worth per head of fed slaughter was the very best in eight months.
Propelled by one other month of widespread development, April pork exports totaled 243,789 metric tons (mt), up 15% from a yr in the past, whereas worth elevated 10% to $660.1 million. April exports to South Korea have been the most important in almost 4 years, whereas exports additionally trended greater to main market Mexico and to the ASEAN, the Dominican Republic, Australia, Taiwan and China/Hong Kong. Export worth per head slaughtered ($67.56) was the very best since Might 2021.
For January by means of April, pork exports climbed 14% to 960,480 mt, valued at $2.62 billion (up 13%).
“Worldwide demand continues to be a optimistic for all the pork provide chain,” stated USMEF President and CEO Dan Halstrom. “Whereas Mexico stays a star performer for U.S. pork, it’s actually encouraging to see development in lots of markets. Latin American demand has remained robust whereas the momentum for U.S. pork into the Asia Pacific area has additionally been rising. That is crucial for maximizing carcass worth and producing income for an business that’s going through tough financial circumstances.”
In the meantime, April beef exports have been 10% beneath final yr at 111,416 mt, whereas worth fell 18% to $859.5 million. Nevertheless, the share of manufacturing exported was regular with final yr and export worth per head of fed slaughter ($441.70) was the very best since July.
Beef exports continued to achieve momentum in Mexico in April, whereas exports additionally elevated to South Korea, Europe and Africa. Exports to China/Hong Kong have been comparatively robust in April however shipments to Japan have been down considerably.
By way of the primary 4 months of 2023, beef exports have been down 8% in quantity (437,910 mt) and have been 21% decrease in worth ($3.21 billion) in comparison with final yr’s report tempo.
“With U.S. beef provides tightening, it’s tough to maintain tempo with the outstanding export totals posted within the first half of 2022, however exports proceed to account for the same share of manufacturing as final yr’s report,” Halstrom stated. “The rebound in journey and tourism – which is now gaining momentum in Asia – and associated foodservice alternatives proceed to assist beef demand. In some international locations we have now additionally seen a latest easing of the inflationary strain on customers’ discretionary revenue.”
Halstrom added that for each beef and pork exports, it’s crucial that West Coast port terminal operators attain a contract settlement with longshoremen.
“Whereas there was no formal strike or lockout, sporadic work stoppages on the West Coast are a significant concern for exporters and their worldwide prospects,” Halstrom stated. “That is very true for firms delivery chilled beef or pork to Asia. For that enterprise, reliability and timeliness are paramount.”
An in depth abstract of the January-April export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is accessible from the USMEF website.