American Beef Export Value Above Year-Ago

January beef exports were slightly below last year’s volume, export value trended significantly higher. January American beef exports totaled 99,764 mt, down 1% from a year ago. But export value climbed 9% to $763.8 million, as value trended higher year-over-year to South Korea, Japan, Mexico, Canada, Central America, the Caribbean and Hong Kong.

January Beef & Variety Meat Export Volume

“While USMEF expects 2024 to be another challenging year in terms of beef supply availability, the upward trend in export value is a positive sign,” USMEF President and CEO Dan Halstrom said. “The inventory has been cleared and customers in Asia are reloading on U.S. beef. There is also more optimism in Asia’s foodservice sector, especially in Korea.

Combined with the recent strength we’ve seen in the Western Hemisphere, this bodes well for beef demand in the coming year. January was also an excellent month for beef variety meat exports, which are especially important for maximizing the value of every animal.”
Complete January export results for American beef are available here.

Source: USMEF