U.S. pork exports achieved a remarkable milestone in November, reaching their highest value since mid-2021. This surge was led by strong demand in Mexico, Central America, and Colombia. Conversely, the U.S. beef export sector saw a downturn, recording the year's third-lowest value in November, with lamb exports also showing a decline.
According to the USDA and the U.S. Meat Export Federation (USMEF), pork exports in November reached 258,601 metric tons, a 5% increase from the previous year, and a 2% rise in value to $737.4 million. This performance marked the highest in six months and the seventh highest on record. Cumulatively, from January through November, pork exports were up 8%, valued at $7.39 billion.
Dan Halstrom, President and CEO of USMEF, emphasized the remarkable and broad-based momentum for U.S. pork exports, with significant growth in both established and emerging markets. Mexico, in particular, has shown a remarkable demand for U.S. pork, with record exports totaling $221.3 million in November. The U.S. also saw impressive growth in pork exports to Honduras, Guatemala, El Salvador, and Colombia.
In contrast, the beef export sector faced significant headwinds, particularly in Asia. Beef exports in November fell 14% from the previous year, with a 7% decrease in value. Over the first 11 months of the year, beef exports lagged 13% behind the record pace of 2022.
These diverging trends in pork and beef exports reflect the complexities of the global meat market. While pork exports are thriving, beef exports are navigating economic challenges and increased competition, particularly in key Asian markets. The resilience and adaptability of the U.S. meat industry are being tested.
Source : wisconsinagconnection