U.S. beef exports soared to another new value record during March. The U.S. Meat Export Federation says March pork exports were the largest so far this year but well below the record-large totals in March 2021.
Beef exports totaled almost 126,300 metric tons in March, one percent higher than last year and the third-largest on record. The value climbed 33 percent higher to a record $1.07 billion. First-quarter exports were six percent higher than last year.
USMEF CEO Dan Halstrom says rising inflation and less disposable income may represent a potential demand headwind in the April and May export data.
March pork exports hit 222,600 metric tons, their highest total since November 2021. That’s still almost 25 percent below the record volume of last year.
The pork export value hit $615.3 million, also the highest since November but still 23 percent lower year-over-year. First-quarter pork exports were 20 percent lower than last year’s total.