Fueled by document performances in Mexico, Central America and Colombia, November exports of U.S. pork reached the best worth since mid-2021, in keeping with knowledge launched by USDA and compiled by the U.S. Meat Export Federation (USMEF). U.S. beef exports slowed in November, recording the third lowest worth of 2023. November lamb exports additionally trended decrease.

November pork exports totaled 258,601 metric tons (mt), up 5% from a 12 months in the past and the best in six months. Export worth was up 2% to $737.4 million, the best since Could 2021 and the seventh highest on document. For January by way of November, exports totaled 2.64 million mt, up 8% from a 12 months in the past, valued at $7.39 billion (up 5%).

“The momentum for U.S. pork exports is exceptional and really broad-based,” mentioned USMEF President and CEO Dan Halstrom. “Whereas Mexico accounts for a lot of the previous 12 months’s export development, there are success tales all through the Western Hemisphere and throughout the complete globe. And the approaching 12 months additionally appears very promising in each established and rising markets.”

Beef exports totaled 99,029 mt in November, down 14% from a 12 months in the past and the second lowest of the 12 months, whereas worth fell 7% to $786.2 million. For the primary 11 months of the 12 months, beef exports had been 13% beneath the document tempo of 2022 at 1.18 million mt, whereas worth declined 17% to $9.11 billion.

“There are actually brilliant spots for U.S. beef, with exports rebounding in Mexico and demand in a number of Western Hemisphere markets the strongest we’ve seen in years,” Halstrom mentioned. “However financial situations in our largest Asian markets and the sharp rebound in Australian manufacturing and exports have been persistent obstacles over the previous 12 months, making it a pointy distinction with the large 2022 efficiency for U.S. beef exports. Regardless of these challenges, we nonetheless see sustained demand for chilled U.S. beef, and the U.S. stays the dominant provider of chilled beef getting into Korea, Japan and Taiwan.”

With a month to spare, pork exports set quite a few annual information

November pork exports to main market Mexico set a worth document at $221.3 million, up 5% from the massive complete posted a 12 months in the past. Export quantity (100,313 mt) elevated 14% and was the second largest on document, trailing solely October 2023. January-November exports already surpassed the annual information set in 2022, with quantity rising 13% year-over-year to 995,534 mt, whereas worth was 15% larger at $2.12 billion.

Mexico’s surging demand for U.S. pork is very spectacular as a result of the market attracted new competitors over the previous two years. Since mid-2021, Mexico has granted zero-duty entry to all eligible pork, beef and poultry suppliers, and this coverage has been prolonged by way of 2024. The principle beneficiaries are European and Brazilian pork, although pork imports from Brazil have been suspended since late November as a consequence of a court docket problem to Mexico’s import procedures. Even with new gamers within the area, the U.S. share of Mexico’s imported pork market elevated in 2023, reaching 84%.

Led by excellent development in Honduras, Guatemala and El Salvador, pork exports to Central America set month-to-month quantity and worth information in November. Shipments elevated 35% from a 12 months in the past to 16,565 mt, whereas worth surged 37% to $51.3 million. By means of the primary 11 months of the 12 months, exports elevated 15% to 119,348 mt, whereas worth climbed 20% to $352.4 million. Shipments to the area are on a document tempo, with exports already setting annual worth information in Honduras and Guatemala and each quantity and worth information in El Salvador and Nicaragua.

November pork exports to Colombia set a worth document at $34.3 million, up 59% from a 12 months in the past, whereas November quantity was the second largest on document at 12,148 mt (up 46%). After a sluggish begin in 2023, exports to Colombia have strengthened in current months. For January-November, exports had been 6% beneath the 2022 tempo at 88,550 mt, however worth elevated 6% to $242.2 million. The document efficiency in Colombia and strong development in Chile and Peru pushed November pork exports to South America to the most important ranges in two years. Shipments elevated 55% from a 12 months in the past to fifteen,056 mt, the sixth largest on document, whereas worth jumped 58% to $43.2 million, the third highest on document. Exports to Chile had been the most important in 11 years and exports to Peru had been the most important since June. By means of November, exports to South America had been 1% decrease in quantity (106,968 mt) however elevated 8% in worth ($306.7 million).

Different January-November outcomes for U.S. pork exports embrace:

• Though November pork exports to the Dominican Republic had been barely beneath the massive totals posted in 2022, month-to-month exports nonetheless surpassed 10,000 mt for simply the fifth time. January-November exports to the DR already set an annual document at 91,154 mt, up 20% year-over-year, whereas worth elevated 23% to $251.9 million. Shipments to the Caribbean area additionally set annual information, climbing 20% to 111,010 mt, valued at $322.2 million (up 22%). Whereas this was primarily as a consequence of development within the DR,  exports to Caribbean markets outdoors the DR had been the most important in 10 years, with exports on a document tempo to the Netherlands Antilles and Leeward-Windward Islands and rebounding strongly to Trinidad and Tobago.
• November was a wonderful month for pork exports to South Korea, rising 19% from a 12 months in the past to 17,406 mt, whereas worth was up 18% to $57.7 million. January-November shipments elevated 4% to 167,349 mt, whereas worth slipped 2% to $551.5 million. Korea’s use of non permanent duty-free tariff fee quotas once more final 12 months benefited Canadian, Mexican and Brazilian pork. However U.S. share of Korea’s imports elevated from 26% to 32%, because the European Union’s market share declined. Imports from the U.S., EU and Chile enter Korea duty-free beneath commerce agreements.
• Pork exports to Oceania made a powerful rebound in 2023 and this pattern continued in November, with shipments almost tripling from a 12 months in the past to six,414 mt (up 186%), whereas worth elevated 128% to $23.3 million. January-November exports elevated 88% in quantity (70,021 mt) and 71% in worth ($247.8 million).
• January-November exports to the ASEAN elevated 24% from a 12 months in the past to 60,268 mt, although worth declined 2% to $142 million. Two rising markets within the area, each of which have been impacted by African swine fever (ASF), set annual information: exports to Malaysia soared to 4,502 mt valued at $14.3 million, whereas shipments to Indonesia reached 933 mt valued at $3 million.
• November pork exports to Japan had been regular with the earlier 12 months at 26,890 mt, whereas worth elevated barely to $111.6 million. By means of November, exports had been down 5% in quantity (315,337 mt) and seven% decrease in worth ($1.29 billion).
• Pork exports to China/Hong Kong, that are primarily selection meat, trended considerably decrease in November, pushing January-November shipments 4% beneath the earlier 12 months’s tempo at 466,511 mt, whereas worth fell 6% to $1.18 billion. China’s dwell hog value in November averaged $0.93/lb in comparison with $1.60/lb in November 2022. Bigger home manufacturing and inventories, mixed with weak client demand, have slowed China’s 2023 import volumes. Nevertheless, Hong Kong is at present battling a collection of ASF outbreaks that has affected native manufacturing and will heighten the necessity for imports in coming months.
• November exports of pork selection meat had been barely decrease year-over-year, however January-November shipments remained on a document tempo, rising 11% from 2022 to 536,913 mt, valued at $1.26 billion (up 8%). These exports equated to almost $11 per head slaughtered, additionally a document tempo.
• November pork export worth equated to $66.20 per head slaughtered, down barely year-over-year, whereas the January-November common elevated 4% to a document $63.12 per head. Exports accounted for 30.1% of complete November pork manufacturing and 26.2% for muscle cuts solely, every up about one proportion level from a 12 months in the past. The January-November ratios had been 29.4% of complete manufacturing and 25.2% for muscle cuts, in comparison with 27.2% and 23.6%, respectively, in 2022 and matching the document share seen in 2021.