U.S. beef exports soared to another new value record in March, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). March pork exports were the largest so far this year but well below the record-large totals posted in March 2021. Lamb exports continued to gain momentum in March, reaching the third largest monthly volume on record and the highest value in nearly eight years.
Beef exports totaled 126,285 metric tons (mt) in March, up 1% from a year ago and the third largest on record, while value climbed 33% to a record $1.07 billion. First quarter exports increased 6% to 353,852 mt, valued at just over $3 billion (up 41%).
“Global demand for U.S. beef has eclipsed anything I have seen in many years in the meat business,” said USMEF President and CEO Dan Halstrom. “While this momentum is fueled by mainstay markets such as South Korea, Japan and Taiwan, demand is also very strong in China/Hong Kong and key Latin American markets, while exports to the Middle East have rebounded impressively.”
Read the full report here.
Source: U.S. Meat Export Federation
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