Beef exports in May, while trending below last year’s record levels, have in many international markets reached the highest levels so far in 2023, according to data from the U.S. Meat Export Federation (USMEF).
Beef exports totaled 116,159 metric tons (MT) – down 14% from the May 2022 record but an increase of 4% over April. Export value was $874.7 million, down 19% year over year but 2% above April. For January through May, beef exports were down 10% to 554,069 MT, valued at $4.09 billion (down 21%).
“U.S. beef exports face considerable headwinds in 2023, on both the supply and demand side, especially when compared to last year’s massive totals,” said USMEF President and CEO Dan Halstrom. “To address tighter beef supplies, USMEF has heightened efforts to showcase underutilized cuts, even in our well-established markets. It’s also encouraging to see beef variety meat exports maintain a strong pace, as this is essential for maximizing carcass value.”
Exports to Mexico were an exception, surpassing last year’s levels. Shipments increased 9% to 17,254 MT, valued at $94.2 million. From January to May, exports to Mexico were 13% above last year’s pace at 82,166 MT, with value up 17% to $459.6 million. Mexico is the largest volume destination for U.S. beef variety meat, with exports through May increasing 16% to 42,613 MT. Export value climbed 20% to $120.4 million.
While below last year’s large volume, May exports of beef variety meat were the largest in 12 months at 26,961 MT, with value the highest since November at $99.5 million. In addition to Mexico, variety meat exports trended higher to South Korea, South Africa, Hong Kong and Central America, and while still below last year, exports to Japan were the largest of 2023 at 4,287 MT. For January through May, beef variety meat exports were 5% below last year at 117,611 MT, while value fell 15% to $448.2 million.
View the full USMEF report.
