Beef Exports Show Modest Rebound In October

October beef exports remained well below last year’s large totals but improved from September, led by stronger demand in Mexico and Taiwan, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef exports totaled 104,446 metric tons (mt.) in October, down 17% from a year ago but 6% above the low volume posted in September. Export value was $836 million, down 11% year-over-year but 5% higher than September. October exports posted significant year-over-year increases in Mexico, Central America (including a record volume for Costa Rica), Taiwan, Europe and Africa, but continued to trend lower to Japan, South Korea and China.

January through October exports of U.S. beef reached 1.08 million mt., down 13% from the record pace of 2022, while value fell 17% to $8.32 billion.