August U.S. pork exports passed 2021 totals for the first time this year while beef exports topped $1 billion for the 7th month in 2022.
U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom says Mexico, China and the ASEAN region showed significant gains in pork shipments in August and variety meat exports were the third largest on record in August at nearly 53,000 mt. Pork exports to South Korea also increased year-over-year, despite some competitors recently gaining access to a zero-duty quota (U.S. pork already enters Korea duty-free under the Korea-U.S. FTA).
August beef exports totaled 133,832 mt, up 1% year-over-year and the second largest volume on record – trailing only May 2022. Export value was just under $1.04 billion, slightly below the then-record total achieved in August 2021, which was the first-time monthly exports topped the $1 billion mark. Exports to China/Hong Kong and the Philippines set new records, while shipments to South Korea remain on a record pace in 2022.
In this USMEF Audio Report, Halstrom outlines what drove the increases in U.S. red meat purchases.
A detailed summary of the January-August export results for U.S. pork, beef and lamb is also available from the USMEF website.