September Red Meat Exports Above Year-Ago; Pork on Pace for Annual Record

September exports of U.S. pork and beef were higher year-over-year, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF), with pork exports well-positioned to set annual volume and value records in 2024.

September pork exports totaled 238,047 metric tons (mt), up 8% from a year ago, while value increased 6% to $685.1 million. Through the first three quarters of the year, pork exports were 5% above last year's pace at 2.23 million mt, with value up 7% to $6.36 billion.

"U.S. pork's September performance was especially encouraging because growth was mainly driven by small and medium-sized markets in Central America, Southeast Asia and Oceania, and pork exports to Colombia continue to reach new heights," said USMEF President and CEO Dan Halstrom. "It was certainly another robust month for pork exports to Mexico and shipments to Japan were above last year. But the broad-based growth reflects the U.S. industry's strong commitment to market diversification."

Exports of U.S. beef totaled 103,980 mt in September, up 5% year-over-year, while export value climbed 6% to $843.8 million. January-September exports increased 5% in value to $7.82 billion, despite volume falling 2% to 960,814 mt.

With the exception of China/Hong Kong, September beef exports trended higher than a year ago in all major Asian markets, while demand remained strong in Mexico and shipments to Central America were the largest in 18 months.

"The tourism rebound in Asia has certainly provided momentum for U.S. beef, especially in Japan, Taiwan and Korea," Halstrom said. "We also saw impressive growth in the Philippines and Indonesia, which are markets where we see a lot of untapped growth potential."

Broad-based growth has pork exports poised to set annual records

September pork exports to leading market Mexico totaled 91,492 mt, up 3% from a year ago, though value edged slightly lower to $206.6 million. Exports to Mexico remained on a record pace through September, climbing 7% in volume (850,204 mt) and 12% in value ($1.89 billion). With a strong fourth quarter, export value to Mexico will exceed $2.5 billion, which is in line with USMEF's forecast. Exports to Mexico currently equate to nearly $20 for every U.S. hog slaughtered.

Led by outstanding growth in Honduras, Guatemala, Costa Rica, El Salvador, Panama and Nicaragua, September pork exports to Central America soared 36% above last year to 12,895 mt, valued at $41.9 million (up 42%). Exports to the region are also on a record pace in 2024, with shipments through September climbing 23% to 109,634 mt, with value up 33% to $344 million.

Robust growth in the Philippines, Malaysia and Singapore pushed September pork exports to the ASEAN region to 7,701 mt, up 83% from a year ago, while value climbed 82% to $16 million. Domestic production in the region continues to be impacted by African swine fever, driving strong demand for imports. U.S. pork is capturing market share previously held by European suppliers, although EU exports to the region have rebounded to some degree this year. Through September, U.S. exports to the ASEAN region increased 17% from a year ago to 61,320 mt, while value was up 8% to $134.2 million.

Other January-September results for U.S. pork exports include:

• September was another excellent month for pork exports to Colombia, which are on a record pace in 2024. September shipments climbed 43% from a year ago to 10,924 mt, valued at $33.4 million (up 22%).

• Despite heightened competition from Brazilian pork, September pork exports to the Dominican Republic increased 32% from a year ago to 7,644 mt, while value climbed 31% to $22.8 million. These results pushed January-September shipments to the DR to 69,681 mt, down 4% from a year ago, while value was steady at just under $200 million. January-September exports to the Caribbean region were also bolstered by a quadrupling of shipments to Cuba (5,843 mt, up 322%) and strong growth in Trinidad and Tobago (3,869 mt, up 23%). Exports are also well-positioned to set annual records in the Leeward-Windward Islands (3,039 mt, up 20%), the Netherlands Antilles (2,059 mt, up 8%) and Turks and Caicos (599 mt, up 35%).

• September pork exports to Japan were 6% above last year at 24,625 mt, while value increased 7% to $104.5 million. Through the first three quarters of the year, exports to Japan remained slightly below last year in both volume (259,704 mt, down 2%) and value ($1.06 billion, down 1%).

• With demand strengthening in both Australia and New Zealand, September pork exports to Oceania increased 41% from a year ago to 7,709 mt, valued at $28.9 million (up 50%). January-September exports to the region climbed 33% in volume (76,619 mt) and 37% in value ($276.8 million).

• Although pork exports to South Korea slowed in August and September, January-September shipments remained well above the 2023 pace at 170,219 mt, up 25%, while value climbed 30% to $582.4 million.

• September pork exports to China/Hong Kong were the largest in 15 months at 41,405 mt, up 11% from a year ago, while value also increased 11% to $97.8 million. January-September exports to the region remained well below last year at 344,432 mt (down 11%), valued at $824.1 million (down 17%). Pork variety meat accounts for more than 70% of the export volume to China/Hong Kong, which is the largest destination for these products. Through September, pork variety meat exports to the region totaled nearly 240,000 mt, which was down only 5% from a year ago.

• Pork export value equated to $65.11 per head slaughtered in September, up 6% from a year ago. The January-September average was $66.15 per head, up 5%. Exports accounted for 29.6% of total pork production in September and 25.4% for muscle cuts only, each up about 1.5 percentage points from a year ago. The January-September ratios were 30.2% and 26%, respectively, up from 29.4% and 25.2% during the same period last year.

Mexico, Central America, Asian markets fuel September beef export growth

Mexico was the leading volume market for U.S. beef exports in September, with shipments climbing 20% from a year ago to 19,692 mt. Export value was 19% above last year at $112.1 million.

January-September exports to Mexico were up 13% to 173,283 mt, while value increased 17% to just over $1 billion. This included 92,465 mt of variety meat exports, up 17% year-over-year, while the value of these items increased 10% to just under $250 million. This included about $73 million of beef tripe, $69 million of lips and $34 million of hearts.

After a slow start in 2024, beef exports to Taiwan rebounded impressively in the second and third quarters. This trend continued in September, with exports climbing 36% from a year ago to 4,702 mt, valued at $53.3 million, up 33%. These results pulled January-September exports to Taiwan to within 1% of last year's pace in volume (47,371 mt), while value increased 8% to $525.1 million.

September beef exports to Japan totaled 19,249 mt, up 10% from a year ago, while value increased 6% to $145.8 million. Through September, exports to Japan were slightly ahead of last year's pace at 188,885 mt (up 1%), while value climbed 5% to $1.46 billion.

Other January-September results for U.S. beef exports include:

• Beef exports to South Korea totaled 18,080 mt in September, up slightly from a year ago, while value climbed 10% to $175.5 million. Korea is the leading value market for U.S. beef exports and January-September shipments increased 2% from a year ago to $1.6 billion, despite a 10% decline in volume (169,145 mt).

• September beef exports to Central America were the largest since March 2023 at 2,050 mt, up 15% from a year ago, while value increased 7% to $15 million. January-September exports to the region increased 4% to 15,702 mt, valued at $114.9 million (up 9%), including sharply higher shipments to Panama and significant growth to Guatemala. Guatemala is the leading Central American market for U.S. beef and shipments are expected to be record large in 2024 for the second consecutive year, at higher unit export prices.

• Led by a sharp increase in Cuba - which mostly takes canned product - and steady shipments to the Dominican Republic, September beef exports to the Caribbean increased 7% from a year ago to 2,220 mt, while value was up 10% to $19.2 million. January-September exports increased 21% to 24,474 mt, valued at $206.3 million (up 9%). Pork exports are on a record pace to the DR, Cuba, Netherlands Antilles, Leeward-Windward Islands and Turks and Caicos.

• Significant growth in the Philippines and the largest shipments to Indonesia in more than two years pushed September beef exports to the ASEAN region to 4,488 mt, up 28% from a year ago, while value soared 51% to $35.7 million. Through September, beef exports to the ASEAN increased 2% to 30,951 mt, while value soared an impressive 40% to $257.3 million. Exports to the Philippines, the leading ASEAN market for U.S. beef, have been above year-ago levels for six consecutive months.

• While beef export volume to the Middle East trended lower in September (3,585 mt, down 3% from a year ago), value still increased 16% to $21 million. January-September exports to the region were up 26% from a year ago in both volume (40,086 mt) and value ($185.2 million). This included a rebound in beef variety meat shipments to Egypt (28,613 mt, up 21%) and larger muscle cut exports to the United Arab Emirates (4,257 mt, up 43%), Kuwait (2,208 mt, up 105%) and Qatar (1,923 mt, up 112%).

• September exports of U.S. beef variety meat totaled 24,257 mt, up 9% from a year ago, while value fell 3% to $88.3 million. For January through September, beef variety meat exports were 1% higher in volume (215,093 mt) and steady in value ($838.3 million). In addition to the growth in Mexico, variety meat exports increased to Japan, Egypt, China, Canada, Peru, Chile, Gabon, Jamaica, Morocco, Trinidad and Tobago, Honduras, Panama and Vietnam.

• Beef export value equated to $412.52 per head of fed slaughter in September, up 3% from a year ago. The January-September average was $414.62 per head, up 5%. September exports accounted for 13.8% of total September beef production, up from 13.4% last year, while the percentage of muscle cuts exported held steady at 11.3%. For January through September, exports accounted for 13.9% of total production and 11.6% for muscle cuts, each down slightly from a year ago.

September lamb exports lowest of 2024

Exports of U.S. lamb reached just 167 mt in September, down 32% from a year ago and the lowest this year. Export value was $853,000, down 27%. Despite this slowdown, January-September lamb exports were 13% above a year ago at 2,113 mt, while value increased 17% to $11.1 million. Shipments trended higher than a year ago to the Caribbean, Mexico, the Philippines, Guatemala and Taiwan. Lamb exports to Mexico are on pace to be the largest since 2019, while shipments to the Bahamas are the strongest since since 2011.

Complete January-September export results for U.S. pork, beef and lamb are available from USMEF's statistics web page.

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

NOTES:

• Export statistics refer to both muscle cuts and variety meat, unless otherwise noted.

• One metric ton (mt) = 2,204.622 pounds.

• U.S. pork and beef currently face retaliatory duties in China. In February 2020, China announced a duty exclusion process that allows importers to apply for relief from duties imposed in response to U.S. Section 301 duties. When an application is successful, the rate for U.S. beef can decline to the MFN rate of 12% and the rate for U.S. pork can decline to 37% (the MFN rate plus the 25% Section 232 retaliatory duty, which remains in place).