Led by way of any other exceptional month in Mexico and powerful call for for selection meat, exports of U.S. red meat persevered to realize momentum in Might, in step with information launched by way of USDA and compiled by way of the U.S. Meat Export Federation. Whilst effectively underneath the record-large quantity and price posted in Might 2022, red meat exports stepped forward from April and have been the second one biggest (in the back of March) of 2023.
Might red meat exports reached 261,361 metric lots, up 16% from a yr in the past, the 9th biggest on checklist and the most important since Might 2021. Export price climbed 12% to $731.1 million, additionally the best possible since Might 2021 and the 7th best possible on checklist. Beef selection meat exports have been in particular exceptional in Might, surroundings a price checklist of $127 million.
Might exports to main marketplace Mexico have been effectively above ultimate yr, whilst shipments to Taiwan have been the most important in 12 years and export price to South Korea reached a five-year top. Exports have been additionally considerably upper to Australia, Central The united states and Malaysia.
Throughout the first 5 months of the yr, red meat and red meat selection meat exports have been 14% above ultimate yr’s tempo at 1.22 million mt, valued at $3.35 billion (up 13%).
“Whilst red meat shipments to Mexico are on a outstanding tempo, it takes quite a lot of markets to reach double-digit enlargement,” stated Dan Halstrom, USMEF president and CEO. “Call for is powerful all the way through the Western Hemisphere and the U.S. trade continues to make features in Asian markets the place provides of Ecu red meat are a lot tighter than a yr in the past.”
Red meat exports totaled 116,159 mt, down 14% from the Might 2022 checklist however up 4% from the former month. Export price was once $874.7 million, down 19% year-over-year however 2% above April. Might exports bolstered to Mexico, Taiwan and South Africa, and export price to Canada was once the best possible in just about 8 years. Red meat selection meat exports have been the most important in three hundred and sixty five days at just below 27,000 mt.
For January thru Might, red meat and red meat selection exports have been down 10% to 554,069 mt, valued at $4.09 billion (down 21%).
“U.S. red meat exports face substantial headwinds in 2023, on each the availability and insist facet, particularly when in comparison to ultimate yr’s huge totals,” Halstrom stated. “To handle tighter red meat provides, USMEF has heightened efforts to exhibit underutilized cuts, even in our well-established markets. It is also encouraging to look red meat selection meat exports deal with a robust tempo, as this is very important for maximizing carcass price.”
Might exports of U.S. lamb muscle cuts totaled 141 mt, down 32% from a yr in the past and the bottom quantity of 2023. Export price was once $772,409, down 17%. Might exports declined to maximum primary locations, however greater to the Bahamas. For January thru Might, exports remained 9% above ultimate yr’s tempo at 958 mt, valued at $5.5 million (up 5%).
An in depth abstract of the January-Might export effects for U.S. red meat, red meat and lamb, together with market-specific highlights, is to be had from the USMEF web site.