Meat Exports Offer Mixed Signals

Pork exports from the United States have reached an impressive milestone, hitting a two-year high. In May, the industry witnessed a surge in exports led by Mexico and a robust demand for pork variety meat. Although the figures fell short of the record set in May 2022, beef exports showed improvement from the previous month, making it the second-largest export month in 2023. 

May had a 16% increase in pork exports over the same month last year, totaling 261,361 metric tonnes, which made it the highest export month since May 2021.  The export value also climbed by 12% to $731.1 million, reaching its highest point since May 2021. A noteworthy achievement was the pork variety meat exports, which set a record value of $127 million. 

Pork and pork-variety meat exports for the first five months of the year increased by 14% to 1.22 million metric Tonnes, valued at $3.35 billion, surpassing the previous year's totals. 

In contrast, beef exports faced several challenges and struggled to match previous records. However, exports to Mexico defied the trend, with a 9% increase in May, reaching a total of 17,254 metric tons. The export value to Mexico also saw a 14% rise, reaching $94.2 million. Mexico remains the primary destination for U.S. beef variety meat, and through May, exports to Mexico grew by 16%. 

While the pork industry experiences growth, driven by expanding markets and strong demand for a variety of meat, the beef industry faces headwinds due to supply and demand factors. Efforts are being made to promote underutilized cuts to address tighter beef supplies. Additionally, exports of beef variety meat continue to grow quickly, which is essential for maximizing carcass value. 

The dynamic nature of international markets is evident in the performance of both pork and beef exports. The United States continues to make progress in various regions, with strong demand observed in Mexico, South Korea, and other Western Hemisphere countries. The American industry is making notable progress in Asian markets where European pork supplies are somewhat scarcer than they were a year ago. 

The pork industry is riding the wave of success with increased exports, bolstered by robust demand and expanding markets. On the other hand, the beef industry faces challenges and is actively working to navigate through obstacles and showcase the value of underutilized cuts to drive growth.