Worldwide Demand Driving U.S Beef Export Record Pace

DENVER, CO – The popularity of U.S. beef around the globe is even more apparent according to the latest data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

For July, USMEF says the export value of U.S. beef grew by 45 percent from one year earlier to $939 million.

As for export volumes of beef, it was the third-largest month on record in nearly 20 years, 123-thousand metric tons, a 14 percent year-over-year increase.

Data shows the volume growth can be attributed to record-large shipments to China as well as a strong rebound in Western hemisphere markets.

Volume levels were not particularly greater for the mainstay Asian markets of Japan, South Korea, and Taiwan, but with higher prices being paid, added to the gains in export value.

Maybe the most exciting news for the industry today is found in the year-to-date column.

For 2021, through July, U.S. beef exports are up 18 percent over 2020, value is 30 percent higher, and when compared to the export record set back in 2018, shipments are 6 percent higher and value is up 17 percent.

If the trend continues through the remainder of the year, 2021 will be the best year ever for U.S. beef exports by both volume and value.
(SOURCE: All Ag News)