US beef exports peak with Japan's robust demand

Record-high values reached in U.S. beef exports to Japan

June marked a notable milestone for U.S. beef exports, particularly to Japan, where demand surged significantly.

According to the latest data from the USDA and compiled by the U.S. Meat Export Federation, although the overall export volume dipped slightly to 110,155 metric tons, a 4% decrease from the previous year, the export value impressively increased to $938.3 million, up 3% from last year and the most substantial since August 2022.

Japan stood out with an 8% increase in volume and a 9% rise in value compared to the previous period, achieving a robust $182 million in June alone.

Dan Halstrom emphasized the resilience of Japan’s market, particularly from the food service sector, which played a critical role in this growth.

This upward trend was also evident in other regions; Taiwan recorded the third-highest export volume, and Canada saw its most substantial imports in nearly a decade.

However, exports to South Korea were slightly lower than the previous year, though they showed signs of recovery from earlier months.

The first half of 2024 saw beef export values increase by 5% to $5.22 billion, despite a 4% reduction in volume, underscoring a strong global demand for U.S. beef. This robust performance, led by Japan, signifies a positive trajectory for U.S. beef in the international market, reflecting resilience and adaptability amid global economic fluctuations.