August Beef Exports Trend Lower

U.S. beef exports were below year-ago levels in August, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Beef exports totaled 102,682 mt in August, down 6% from a year ago and the lowest since January. Export value fell 4% to $845.9 million. Through the first eight months of the year, beef exports were 3% below last year at 856,834 mt, but were 4% higher in value at just under $7 billion.

“Beef demand in our major Asian markets seemed to lose a bit of momentum in August, but exports held up well to Mexico, Taiwan and the Middle East,” said USMEF President and CEO Dan Halstrom. “The headwinds in Asia remain formidable, but we are encouraged by the region’s ongoing tourism rebound.

The late-September removal of Colombia’s restrictions on U.S. beef is also a positive development. While this came too late to impact the August results, it will help bolster fourth-quarter demand in Latin America.”

Beef export value equated to $391.19 per head of fed slaughter in August, down 1% from a year ago. The January-August average was $414.88 per head, up 5%. Exports accounted for 13% of total August beef production and 10.7% for muscle cuts only – each down about one-half percentage point from a year ago. The January-August ratios were 13.9% of total production and 11.6% for muscle cuts, down from 14.3% and 12%, respectively, during the same period in 2023.

Source: USMEF