May US beef export value highest in 11 months - USMEF
Beef exports down 5% over last year
11 July 2024
1 minute read
By: The value of US beef exports topped $900 million in May, the highest since June 2023, according to data released by USDA and compiled by USMEF.
May beef exports totalled 110,133 metric tons (mt), down 5% from a year ago but the second largest of 2024. Beef export value reached $902.4 million in May, 3% above last year and the highest in 11 months.
For January through May, beef exports followed a similar trend, increasing 5% year-over-year in value to $4.29 billion, despite a 4% decline in volume (533,578 mt).
"It has been encouraging to see demand stabilise in Japan, where US beef certainly faces significant headwinds," said USMEF president and CEO Dan Halstrom. "The tourism boom has provided a much-needed lift for Japan’s foodservice sector, and it is a source of optimism for buyers and importers."
"Taiwan and the ASEAN region were also bright spots for US beef in May, along with Western Hemisphere markets such as Mexico, Guatemala and the Caribbean," Halstrom added.
