September Pork Exports Continue Upward Trend; Pace Cools for Beef

2022 beef export value trails only 2021’s record-setting numbers.

U.S. pork exports topped year-ago totals for the second consecutive month in September, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). September beef exports were below last year for the first time in 2022, but exports remain on a record pace through the first three quarters of the year.

Growth in Japan, Korea and Caribbean bolsters September pork exports
Pork exports reached 222,202 metric tons (mt.) in September, up 1% from a year ago. Export value increased 9% to $664.8 million — the highest since June 2021. Through September, pork exports were 13% less than last year at 1.94 million mt., valued at $5.57 billion (down 11%).

September pork exports were once again led by Mexico, though shipments slipped lower than year-ago volume for the first time since early 2021. Exports rebounded to Japan, strengthened to China/Hong Kong and South Korea, and continued on a record pace to the Caribbean and Colombia.

While headwinds affect beef exports, annual records still within reach
September beef exports totaled 115,487 mt., valued at $890.3 million, 7% lower than a year ago in both volume and value. For the first nine months of 2022, beef exports were still 4% higher than last year at 1.12 million mt. Export value reached $9.12 billion, 20% higher and already achieving the second-highest total for any calendar year, trailing only the 2021 record ($10.58 billion).

Despite China’s zero-COVID policies that result in travel restrictions and periodic lockdowns in metropolitan areas, September beef exports to China/Hong Kong were still more than last year. Shipments also increased year over year to the Association of Southeast Asian Nations (ASEAN) region and the Caribbean, but declined to Korea, Japan and Taiwan.

While beef exports remain well-positioned to reach new heights in 2022, the September results reflected significant headwinds that have been building for some time.

“Demand for U.S. beef has been extremely resilient, but inflationary pressure on consumers and weakened currencies in key markets have definitely created a more challenging environment,” says USMEF President and CEO Dan Halstrom. “Exports also continue to face logistical challenges, lockdowns in China and mounting inventories in some destinations. Still, it’s hard to view September sales of nearly $900 million as a disappointment, when this would have been an all-time record just 18 months ago. That really drives home what a remarkable year this has been for U.S. beef exports.”

Lamb muscle cut exports rebound in September
Following a down month, September exports of U.S. lamb muscle cuts rebounded to 269 mt., 175% higher than last year’s low volume. Export value totaled $1.31 million, 67% higher. Through September, lamb muscle cut exports increased 76% to 1,676 mt., valued at $9.9 million (up 68%), led by a near doubling of exports to the Caribbean.

A detailed summary of the January-September export results for U.S. beef, pork and lamb, including market-specific highlights, is available from the USMEF website.

For questions, please email Joe Schuele or call 303-547-0030.

Editor’s note: This article is provided by the U.S. Meat Export Federation.