Might red meat exports reached 261,361 metric lots (mt), up 16% from a 12 months in the past, the 9th biggest on list and the biggest since Might 2021. Export worth climbed 12% to $731.1 million, additionally the best possible since Might 2021 and the 7th best possible on list. Red meat selection meat exports had been in particular remarkable in Might, surroundings a worth list of $127 million.
During the first 5 months of the 12 months, red meat and red meat selection meat exports had been 14% above final 12 months’s tempo at 1.22 million mt, valued at $3.35 billion (up 13%).
Red meat exports to main marketplace Mexico remained on a record-shattering tempo in Might, hovering 21% from a 12 months in the past to 96,811 mt and mountain climbing 16% in worth to $198.9 million. This driven January-Might export quantity to 447,081 mt, up 13% from a 12 months in the past, whilst worth higher 24% to $890.1 million. Whilst maximum red meat shipments to Mexico are muscle cuts – both for additional processing or as featured pieces in Mexico’s retail and foodservice sectors – Mexico’s call for for red meat selection meat has additionally bolstered this 12 months. Thru Might, selection meat shipments higher 46% to 64,232 mt, valued at $111.4 million (up 40%).
Might red meat exports to South Korea totaled 21,182 mt, up 25% from a 12 months in the past. Export worth higher 21% to $73.4 million, the best possible in additional than 5 years and the fourth best possible on list. Thru Might, exports to Korea climbed 15% year-over-year to 87,577 mt, valued at $283.5 million (up 6%). U.S. red meat, which enters Korea at 0 obligation below the Korea-U.S. Unfastened Business Settlement, has completed this enlargement in spite of an inflow of Canadian, Mexican and Brazilian red meat, that have benefited from Korea’s contemporary implementation of duty-free import quotas. Korea’s January-Might imports of red meat from the EU had been down 23%, and this decline used to be no longer absolutely offset through robust enlargement from the U.S., Canada, Mexico and Brazil.
As famous above, exports of red meat selection meat reached a list $127 million in Might, up 24% from a 12 months in the past. Export quantity used to be 51,826 mt, up 27% and the 9th biggest on list. January-Might selection exports are on a list tempo, hovering 35% above final 12 months’s tempo to 246,856 mt, with worth up 24% to $585.6 million. China stays the main vacation spot for U.S. red meat selection meat, however 2023 export enlargement has additionally been pushed through Mexico, the ASEAN, Canada, South The us and the Caribbean.
July 7, 2023/ USMEF/ United States.
https://www.usmef.org