Modest rebound for US beef markets - USMEF
August beef exports down 19% from last year
11 October 2023
1 minute read
By: US beef exports were well below the large totals posted in August 2022 but showed improvement over July results, according to data released by USDA and compiled by the US Meat Export Federation (USMEF).
August beef exports totalled 109,000 mt, down 19% from last year – when export volume was the second highest on record – but a 6% increase over July. Export value was $883.9 million, down 15% year-over-year but 9% above July. For January through August, beef exports trailed last year’s record pace by 12% in volume (881,343 mt) and 19% in value ($6.69 billion).
"Beef exports certainly face significant headwinds, especially in our large Asian markets where foodservice has been slow to recover and consumer confidence is low due to the impact of rising prices and the strong US dollar,” said USMEF president and CEO Dan Halstrom. “But exports to South Korea and Japan did bounce back to some degree after a difficult July."
"Mexico continues to be a major bright spot for US beef, and exports to other Western Hemisphere partners in Central and South America and the Dominican Republic also gained momentum in August," Hailstorm added.
