Red Meat Exports Trend Higher in March; Beef Export Value Highest in Nine Months

Exports of U.S. beef, pork and lamb trended higher year-over-year in March, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef export value was the highest since June, while Latin American markets again fueled pork export growth. March exports of lamb muscle cuts were the largest in more than five years.

“Despite a great deal of uncertainty, global demand for U.S. beef remains robust and resilient,” says USMEF President and CEO Dan Halstrom, in a release. “The March export results confirm this, with demand trending higher in Taiwan and Mexico, reaching record levels in Central America and holding up well in Japan and Korea. Although we anticipate that China’s retaliatory tariffs and expired plant registrations will have a more drastic impact on April and May exports, the U.S. industry’s efforts to diversify markets and broaden U.S. beef’s global footprint are definitely paying dividends.”

March beef exports totaled 109,330 metric tons (mt), up 1% from a year ago, while export value reached $922 million – up 4% and the highest since June. Export value per head of fed slaughter was the seventh highest on record at $466.77.

First-quarter beef exports were slightly below last year’s pace at 310,368 mt, but increased 2% in value to $2.53 billion.