American pork exports to Mexico set another record in the most recent month of available shipment figures. Data for other export markets was strong as well.
According to Agriculture Department data compiled by the U.S. Meat Export Federation, October pork shipments to Mexico accounted for more than 40% of the sector's total exports. Shipments totaled 245,345 metric tons worldwide, and Mexican volume shot up 19% year-over-year in October; the value of Mexico’s purchases shot up 9% to $221.1 million.
“I run out of superlatives when talking about the remarkable demand we are seeing in Mexico,” USMEF President and CEO Dan Halstrom said in a statement. “Pork exports are also achieving excellent growth across the Western Hemisphere and retaking market share in the Asia-Pacific.”
USMEF also noted strong growth in exports to Colombia (volume up 35% year-over-year, value 42% higher) and several Central American markets, South Korea and the Dominican Republic. Japan, typically a strong market for the U.S., is “trending lower in 2023,” the group added. Volume is down 6% year-over-year and the value of shipments there dropped 7% to $1.17 billion.
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American beef exports are well below the record figures posted in 2022; year-to-date shipments were 13% lower as of the end of October and value was down 17% to $8.3 billion. Halstrom pointed to “economic headwinds in our largest Asian markets” weighing on demand “as consumers trade down to lower-priced proteins."
The value of purchases through the end of October dropped 25% in Japan and South Korea and 28% in China.
Mexico was also a bright spot for beef shippers, with year-to-date shipment volume up 15% and value up 25% to nearly $976 million.
Year-to-date lamb shipments are down 11%; volume is recorded 12% lower at $10.7 million.
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