February red meat exports larger 14% from a 12 months in the past to 250,930 metric lots (mt), whilst price jumped 15% to $685.1 million. Throughout the first two months of 2024, exports larger 10% in each quantity (502,354 mt) and price ($1.37 billion).
Beef exports to main marketplace Mexico remained on a outstanding roll in February, expanding 21% from a 12 months in the past to 94,272 mt – the 8th best on report – whilst price jumped 22% to $189.5 million. Thru February, shipments to Mexico totaled 196,453 mt, 12% above closing 12 months’s report tempo, whilst price larger 15% to $396.8 million.
Call for for U.S. red meat continues to rebound in Korea, the place shipments have sped up considerably since overdue 2023. February exports reached 21,217 mt, hovering 71% above closing 12 months, whilst export price larger 74% to $69.3 million. Thru February, exports to Korea larger 61% in quantity (41,944 mt) and 62% in price ($137 million).
Beef exports to South The united states are off to a powerful get started in 2024. February shipments larger 58% from a 12 months in the past to 13,132 mt, whilst price climbed 65% to $37.9 million. Thru February, exports to the area larger 56% to 24,596 mt, valued at just below $70 million.
January-February red meat exports to Australia greater than tripled from a 12 months in the past, hiking 232% to 17,553 mt, valued at $62.9 million (up 229%). Because of import restrictions, maximum U.S. red meat shipped to Australia is uncooked subject material for additional processing, however value-added processed U.S. merchandise have additionally won traction out there.
Malaysia continues to emerge as a promising expansion marketplace for U.S. red meat. Thru February, shipments to Malaysia totaled 844 mt, up 848% over closing 12 months’s low volumes. Export price larger 734% to $2.5 million.
April 5, 2024/ USMEF/ United States.
https://www.usmef.org