US: Red meat exports exceed year-earlier level in October; pork at record pace

Beef exports totaled 105,269 metric tons (mt) in October, up 1% from a year ago, with value increasing 3% to $860.4 million. Shipments to Mexico maintained their impressive 2024 levels in October, while exports rebounded to SOUTH KOREA and CHINA /Hong Kong. From January to October, the value of beef exports was 4% above last year’s level at $8.68 billion, despite a 2% decline in volume (1.066 mt).

Pork exports reached 252,411 tonnes in October, up 3% from a year ago, while value also rose 3% to US$710.4 million. While shipments to leading market Mexico declined slightly, this was more than offset by growth in Japan, Central America, the Caribbean, Oceania and the ASEAN region. For the first 10 months of 2024, pork exports increased 5% from a year ago to 2.49 million tonnes, valued at US$7.07 billion (up 6%). Exports are forecast to exceed 3 million tonnes for the first time this year, surpassing 2020’s volume record of 2.98 million tonnes and surpassing last year’s value record of US$8.16 billion.