FEBRUARY 13, 2023:
U.S. beef exports set annual data for each quantity and worth in 2022, based on year-end information launched by USDA and compiled by the U.S. Meat Export Federation. Pork exports completed decrease year-over-year however export worth was the third largest on report, led by an excellent efficiency in Mexico.
USMEF President and CEO Dan Halstrom notes that beef export worth reached $11.7 billion, a ten% enhance over 2021, regardless of vital headwinds. A number of key markets maintained COVID-related restrictions that hampered demand within the foodservice sector and key buying and selling associate currencies slumped versus the U.S. greenback late within the 12 months.
Pork exports to Mexico achieved a record-breaking 12 months, with export worth hovering 21% to high $2 billion for the primary time. Exports to China additionally strengthened considerably within the second half of the 12 months.
An in depth abstract of the 2022 export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is out there from the USMEF web site.
FEBRUARY 9, 2023:
U.S. beef exports set annual data for each quantity and worth in 2022, based on year-end information launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). Pork exports completed decrease year-over-year however export worth was the third largest on report, trailing solely the highs reached in 2020 and 2021. Pork exports continued to achieve momentum in December, led by one other excellent efficiency in Mexico. Whereas lamb exports slowed in December, 2022 shipments have been sharply larger than the earlier two years, approaching the pre-COVID ranges of 2019.
Beef exports attain new heights in a number of key markets
Regardless of slowing towards the top of the 12 months, beef exports reached 1.47 million metric tons (mt), up 2% from the earlier excessive in 2021. Export worth climbed to a report $11.68 billion, up 10% from 2021 and practically 40% above the earlier five-year common. The U.S. exported a report share of its record-large beef manufacturing in 2022, and at larger costs. Export worth to South Korea was $2.7 billion, up 13% and an all-time report for any single vacation spot, whereas exports to China/Hong Kong jumped 22% to $2.55 billion. Different markets through which beef exports achieved annual data included Taiwan, the Philippines, Singapore, Colombia, Guatemala and the Dominican Republic.
In December, beef exports trended decrease than a 12 months in the past at 112,707 mt, down 7%, whereas worth fell 21% to $782.6 million. The December decline was due partly to a pointy drop in exports to China/Hong Kong, the place demand had been constrained by persistent zero-COVID insurance policies. China lifted most COVID restrictions in early December and resumed some worldwide journey in early January. Together with the current easing of COVID-related chilly chain laws and inspections, these adjustments supply a extra optimistic demand outlook for 2023.
“2022 was a ground-breaking 12 months for U.S. beef’s worldwide presence, with international demand stronger than I’ve seen in all my years within the trade,” mentioned USMEF President and CEO Dan Halstrom. “Late within the 12 months, exports actually felt the influence of persistent headwinds in our giant Asian markets, together with depressed buying and selling associate currencies and COVID-related challenges in China, however the lengthy checklist of nations through which data have been set showcases the trade’s give attention to diversifying export markets. Whereas the 12 months forward shall be difficult as a result of provide constraints, the trade price state of affairs has improved and we nonetheless see room for development within the foodservice sector as extra areas proceed their gradual rebound from COVID.”
Pork highlights embrace $2 billion 12 months for Mexico, worth report for selection meat
Pork exports completed 2022 on a decidedly upward trajectory as December shipments reached 244,718 mt, up 13% year-over-year and the second largest of 2022 (barely under November). December export worth climbed 14% to $687.3 million. These outcomes pushed 2022 exports to 2.67 million mt, down 8.5% from a 12 months in the past, whereas export worth was $7.68 billion – down 5% from the report achieved in 2021. Exports of U.S. pork selection meat have been the second largest on report at greater than 530,000 mt, whereas export worth was record-high at $1.27 billion.
Pork exports to Mexico set a quantity report in December on the best way to a record-breaking 12 months through which exports elevated 10% to just about 960,000 mt. Export worth to Mexico soared 21% to $2.03 billion, topping the $2 billion mark for the primary time. December exports additionally set a worth report in Central America and trended larger year-over-year to China/Hong Kong, the Dominican Republic, the Philippines and Australia. 2022 exports to the DR have been record-large in each quantity (85,551 mt, up 46%) and worth ($233.6 million, up 55%).
“The Mexican market has been a star performer for U.S. pork for a few years, however the 2022 outcomes have been actually outstanding,” Halstrom mentioned. “Within the face of rising competitors in Mexico, the U.S. pork trade has expanded product choices and located modern methods to satisfy the wants of processors, retailers and foodservice operators. Along with Mexico, it’s gratifying to see such a broad vary of markets contributing to our current export development, making the prospects for 2023 very promising.”
Robust 12 months for lamb exports, led by Caribbean and Mexico
Exports of U.S. lamb muscle cuts completed 2022 sharply larger year-over-year at 2,225 mt, up 59% and the most important since 2019. Export worth elevated 49% to $13.2 million, additionally the very best since 2019. Progress was led by strengthening demand within the Caribbean, the place exports elevated 47% to 1,043 mt, valued at $7.5 million (up 32%). Exports additionally elevated considerably year-over-year to Mexico, Canada, the Philippines and Taiwan.
An in depth abstract of the 2022 export outcomes for U.S. beef, pork and lamb, together with market-specific highlights, is out there from the USMEF web site.