September Beef Exports Trend Lower
Beef exports continue to face significant headwinds in 2023, and September’s export volume was down 15% and the lowest of the year so far. In data released by USDA and compiled by the U.S. Meat Export Federation, beef exports have struggled in Asia but are showing increasing strength in the Western Hemisphere.
September beef exports totaled 98,757 MT, down 15%, and value fell 12% to $795.5 million.
For January through September, beef exports were 13% below last year’s record pace in volume (980,100 mt) and down 18% in value ($7.49 billion).
“U.S. beef continues to face tough sledding in our Asian markets, where weakness in major currencies persist and consumer confidence remains guarded,” said USMEF President and CEO Dan Halstrom. “In the past few weeks we have seen several Asian trading partners step up efforts to stimulate their economies and ease pressure on consumers. In the meantime, bright spots for U.S. beef continue to emerge in the Western Hemisphere, led by strong demand in Mexico.”