Pork Exports Robust in 2023, Beef Down

The U.S. Meat Export Federation (USMEF) says exports have been significant for the pork industry in 2023.

USMEF’s Joe Schuele says pork is outpacing year-ago levels due to market diversification. “We are up about 10% in volume from a year ago and even more in value,” he said. “It might not be quite a record year for pork exports, but it will be very close.”

He also shared that beef exports are down from last year’s record performance. “Part of that is because of supply. Our beef production is down probably 5% or 6% as we kind of go into the herd rebuilding mode. We’ve been in a period of drought induced liquidation for a while and we’re feeling the effects of that.”

Schuele says beef posted strong year-over-year gains in the month of July to Taiwan and Mexico, and shipments were also higher to Canada, Hong Kong, Africa, Peru and Honduras.

EDITOR’S TAKE:

Great news for pork producers! Record or near record exports will continue to support profitability for this important livestock segment. Beef producers are also experiencing excellent export volume coming off a record year in 2022. That is especially significant when considering that the overall beef herd in the U.S. has experienced a significant reduction in the past year or more. Overall, however, both beef and pork producers are seeing very profitable returns at the moment. They will undoubtedly be on the lookout for a new truck or two in the coming months. Be sure to target these producers in your area. And, of course, remember to include the fact that you are a proud CAD member who supports farmers/ranchers!