News

Beef export values climb in June

U.S beef exports have slowed in volume while export values have risen.

Dan Halstrom, president and CEO of the U.S. Meat Export Federation, says beef exports reached the highest value in nearly two years.  “We exported $938 million in value in the month of June, which is up 3% off of a pretty big number from a year ago,” he says. 

He says Japan has had back-to-back months of solid business, which he says is likely due to the rebound in the food sector. “Japan was up 8% on volume and up 9% on value,” he says.  “It was a $182 million month. Considering all the headwinds that Japan has had the last year or so, it’s really encouraging to see this rebound.”  For the first half of the year, beef export values are running about 5% above year-ago levels despite a 4% decline in volume.

Pork exports fell in June, and were at the lowest levels since September 2023.  Korea remains a bright spot for exports, with 20% year-over-year growth in volume and 30% growth in value for June. For the first six months of the year, Halstrom says Korea’s exports are at 135,000 tons, 33% growth through June.  On the value side there was a 38% growth at $460 million,” he says.  “So, Korea, without a doubt, is really one of the markets that’s really driving the ship so far this year.”

Overall pork exports through the first half of the year are up 3% in volume and 5% in value.