USMEF: Beef exports below last year's record high

Beef exports totaled 116,159 tons, down 14% from May 2022 but up 4% from the previous month. The value of exports was $874.7 million, down 19% from last year but up 2% from April. Exports increased in May to Mexico, Taiwan and South Africa, and the value of exports to CANADA was the highest in nearly eight years. Beef exports were the highest in 12 months at just under 27,000 tonnes.

From January to May, exports of beef and mixed beef fell 10% to 554,069 tons valued at $4.09 billion (down 21%).

“Beef exports will face significant headwinds on both the supply and demand sides in 2023, especially compared to last year’s tremendous performance,” said USMEF Chairman Hallstrom. “To address limited beef supplies, USMEF has stepped up efforts to showcasing underutilized cuts even in our well-established markets. it is also encouraging to see that exports of various beef grades remain strong as needed to maximize carcass value."