Strong finish for US beef exports - USMEF
December export value increased 10% year-on-year
16 February 2024
1 minute read
By: While 2023 beef exports were below the record totals posted the previous year, December exports were the largest since August and December export value increased 10% year-over-year, according to year-end data released by USDA and compiled by the US Meat Export Federation (USMEF).
December exports of US beef totalled 108,497 mt, down 4% year-over-year but the largest since August. Export value was also the highest since August and climbed 10% year-over-year to $860.8 million.
2023 beef exports totalled 1.29 million mt, down 12% from the 2022 record. While export value fell 15% to just under $10 billion, this was still the third highest annual value for beef exports.
“There is no question that 2023 was a challenging year for US beef exports, especially in our largest Asian markets where economic conditions have weighed on foodservice demand,” said USMEF President and CEO Dan Halstrom. “Of course, we were also challenged on the supply side, with less product available for export. But nevertheless, US beef achieved excellent growth in Mexico, Central America and the Caribbean, and we are encouraged by the December uptick in demand in South Korea and China. It was also great to see such strong per-head export value in December, topping $430.”
