Pork exports set value record
Pork exports reached 245,663 metric tons in November, up 3 percent from a year ago, while exports climbed 10 percent to $725.1 million. In both volume and value, exports were the highest since May 2021. For January through November, pork exports were 10 percent below the previous year at 2.43 million mt, valued at just under $7 billion (down 7 percent).
Pork exports to Mexico set another value record in November, topping $200 million for the second consecutive month, and volume was record-large at 87,809 mt. Overall results were also bolstered by excellent growth in variety meat exports, which were up more than 25 percent year-over-year at just over 50,000 mt, valued at $116.9 million — up 21 percent and the fourth highest on record, driven by growth to China and Mexico.
“I cannot say enough about the tremendous performance of the Mexican market and its importance to the U.S. pork industry,” said USMEF President and CEO Dan Halstrom. “U.S. pork faces heightened competition in Mexico, especially with the recent suspension of import duties. But U.S. industry efforts to educate the trade and consumers about the outstanding quality, consistency and value of U.S. pork continue to pay dividends and elevate overall demand. The rebound in pork variety meat exports is also excellent news for the U.S. industry, reflecting broad-based demand growth and an improved labor situation.”
Beef exports down, but still value record setting
November beef exports totaled 115,777 mt, down 6 percent from the previous year’s large volume, while export value declined nearly 20 percent to $846.6 million. However, through the first 11 months of 2022, beef export value still increased 14 percent year-over-year to $10.9 billion, already topping the full-year record ($10.58 billion) set in 2021. January-November export volume was 1.36 million mt, up 3 percent from the record pace of 2021.
“Similar to the previous month, November results for U.S. beef exports reflected severe headwinds in our large Asian markets,” Halstrom said. “Key currencies in the region were still slumping, which impacted the buying power of importers and consumers. COVID cases and lockdowns in China were also intensifying, prompting widespread protests and the eventual lifting of many restrictions. But the U.S. dollar mainly peaked in late October and early November and global demand has remained relatively strong. Even with a high level of economic uncertainty, 2022 has been a fantastic year for U.S. beef exports and the outlook for the coming year remains positive.”
Mexico and Canada drive strong performance for lamb muscle cut exports
November exports of U.S. lamb muscle cuts more than doubled the year-ago volume, reaching 247 mt (up 129 percent), while export value increased 72 percent to $1.38 million. For January through November, exports increased 72 percent to 2,125 mt, valued at $12.5 million (up 61 percent). While 2022 growth was primarily driven by strong demand in the Caribbean, November exports were bolstered by larger shipments to Mexico and Canada.
Complete January-November export results for U.S. pork, beef and lamb are available from USMEF’s statistics web page.