New January export data from the U.S. Meat Export Federation shows big year-over-year pork export growth, but beef exports have continued to decrease.
U.S. pork exports finished 2022 on a strong note and maintained momentum in January, increasing 13% year-over-year to a total of 236,767 metric tons; export value climbed 16% to $643.4 million.
U.S. pork exports to Mexico increased 11% from a year ago and reached a level 7% above the record-breaking high in December 2022. January export value grew a considerable 40% to $191.2 million, largely attributed to the country’s suspension of import duties.
Year-over-year exports also were significantly higher year-over-year to China/Hong Kong, Japan, Canada, the Dominican Republic, Colombia, Honduras and the ASEAN region.
USMEF President and CEO Dan Halstrom noted in a statement that “while Mexico is certainly the pacesetter for U.S. pork exports, it’s encouraging to see such broad-based growth.”
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Record-breaking 2022 beef exports have corrected at the start of this year with lower export totals and shipping volumes. U.S. export volume declined by 15%, totaling 100,942 metric tons. Export value sharply declined by 31.5% to $702.3 million.
Beef export declines in January were more pronounced in Asian destinations. South Korea experienced a 36% volume and 52% value decline from January 2022 after a record year for single destination exports in 2022. Volume and value declines were also observed in China/Hong Kong and Japan.
On the contrary, beef exports to Mexico grew by 20% from a year ago to 17,479 metric tons valued at $94.7 million. However, U.S. beef may face competition in Mexico in the near future after a decision from Mexican officials to allow imports of Brazilian beef for the first time in the country’s history.
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