US beef export value trends higher in 2024 - USMEF
Export value climbed 5% from 2023
11 February 2025
2 minute read
By: US beef export value climbed 5% from 2023 despite a slight decrease in volume as unit export values were record high, according to year-end data released by USDA and compiled by the US Meat Export Federation (USMEF). Lamb exports trended higher than a year ago in both volume and value.
December beef exports totalled 110,171 mt, up 1.5% from a year ago, while value climbed 4% to $897.6 million – the highest since July. For the full year, beef exports were 1.29 million mt, down 0.5% year-over-year, while value increased 5% to $10.45 billion.
“Considering the formidable headwinds in the large Asian markets – especially in the first half of the year – and the challenges on the supply side, beef exports exceeded expectations in 2024," said USMEF president and CEO Dan Halstrom. “The economic climate in Asia has shown modest improvement and in the meantime, demand for US beef strengthened in other regions, including double-digit growth in Mexico."
"The US beef industry continues to export a steady percentage of production at higher prices, as evidenced by export value per head of fed slaughter reaching $415," Halstrom added. "US beef always sells at a premium internationally, and the strong US dollar contributed to further increases in pricing in local currencies. So the 2024 results confirm that global demand is extremely resilient."
Market diversification also paid dividends for beef exports, which achieved annual volume and value records in a number of emerging markets, including the Dominican Republic, Guatemala, Honduras, Panama, the Leeward-Windward Islands, Netherlands Antilles, Turks and Caicos, Cuba, Guyana, Singapore and Morocco. Value records were reached in the Bahamas, Bermuda, Qatar, Jordan and Bahrain.
