Source: U.S. Meat Export Federation
Beef exports totaled 115,107 mt in June, down 12% from a year ago and slightly below the May volume. Export value was $909.5 million, down 13% year-over-year but the highest since October and 4% above the value posted in May. First-half beef exports were 10% below last year’s record pace at 669,176 mt. Export value was just under $5 billion – down 19% from a year ago but still 8% above the first half of 2021.
“It was a challenging first half for beef exports, especially when compared to the blistering pace established a year ago,” Halstrom said. “But we are encouraged to see that exports are still accounting for a consistently high percentage of total beef production, and variety meat exports have held up very well considering the decline in U.S. slaughter. These metrics continue to illustrate the important contribution of exports in maximizing beef carcass value.”
First-half of 2023 beef exports lower overall, but bright spots emerge.
U.S. beef’s presence in Mexico continued to expand in June, with shipments climbing 20% from a year ago to 18,005 mt, while value soared 33% to $97.9 million. First-half exports to Mexico were 14% above last year’s pace at 100,171 mt, while value increased 19% to $557.5 million. Mexico is the largest volume destination for U.S. beef variety meat, with first-half exports increasing 16% to 52,659 mt. Variety meat value climbed 21% to $148.6 million.
While June exports of beef variety meat were below last year’s large volume (25,683 mt, down 3%), export value increased 1% to $104.5 million – the highest since October. In addition to the increase to Mexico (see above), variety meat exports more than doubled year-over-year to South Africa (1,733 mt, up 126%), South Korea (1,684 mt, up 119%), and Indonesia (656 mt, up 112%) and increased sharply to Gabon, Angola, Central America and the Dominican Republic. First-half exports of beef variety meat were 5% below last year at 143,294 mt, while value fell 12% to $552.7 million.
For the second consecutive month, beef exports to Taiwan performed exceptionally well in June. Exports climbed 27% year-over-year to 7,258 mt – the largest since April 2022 and the third highest on record. Export value was also the highest since April 2022 at $67.7 million, up 3% from a year ago. First-half exports to Taiwan were 9% below last year at 33,792 mt, valued at $327.6 million (down 26%), but the recent rebound in demand is very encouraging.
