Exports of U.S. pork eclipsed previous highs in both volume and value in 2024, according to year-end data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Beef export value climbed 5% from 2023 despite a slight decrease in volume as unit export values were record high. Lamb exports trended higher than a year ago in both volume and value.
December pork exports totaled 267,132 metric tons (mt), slightly below last year’s large volume, while value increased 1% to $771.8 million. These results pushed the full-year volume to 3.03 million mt, up 4% from a year ago and topping the previous high (2.98 million mt) reached in 2020. Export value totaled $8.63 billion, up 6% from the previous record set in 2023.
“Market diversification has been a key goal of the U.S. pork industry for many years, and the resulting broad-based growth has never been more evident than in 2024,” said USMEF President and CEO Dan Halstrom. “While exports to Mexico were record-large for the fourth consecutive year, U.S. pork’s footprint expanded greatly in the Western Hemisphere and made gains in the Asia-Pacific, which bolstered global export totals and pushed export value per head slaughtered to a new high of more than $66.”
In addition to Mexico, pork exports achieved annual volume and value records in Central America, Colombia, New Zealand, Malaysia and several Caribbean markets. Value records were reached in South Korea, Australia and the Dominican Republic.
December beef exports totaled 110,171 mt, up 1.5% from a year ago, while value climbed 4% to $897.6 million – the highest since July. For the full year, beef exports were 1.29 million mt, down 0.5% year-over-year, while value increased 5% to $10.45 billion.
“Considering the formidable headwinds in the large Asian markets – especially in the first half of the year – and the challenges on the supply side, beef exports exceeded expectations in 2024,” Halstrom said. “The economic climate in Asia has shown modest improvement and in the meantime, demand for U.S. beef strengthened in other regions, including double-digit growth in Mexico. The U.S. beef industry continues to export a steady percentage of production at higher prices, as evidenced by export value per head of fed slaughter reaching $415. U.S. beef always sells at a premium internationally, and the strong U.S. dollar contributed to further increases in pricing in local currencies. So the 2024 results confirm that global demand is extremely resilient.”
Market diversification also paid dividends for beef exports, which achieved annual volume and value records in a number of emerging markets, including the Dominican Republic, Guatemala, Honduras, Panama, the Leeward-Windward Islands, Netherlands Antilles, Turks and Caicos, Cuba, Guyana, Singapore and Morocco. Value records were reached in the Bahamas, Bermuda, Qatar, Jordan and Bahrain.
Record pork exports to FTA partners underscore importance of duty-free access
Pork exports to Mexico totaled 1.15 million metric tons in 2024, up 5% from the enormous total exported in 2023. Export value climbed 10% in 2024 to $2.58 billion – more than doubling since 2020. These results were achieved even as more competitors target Mexico as a growth market. Mexico eliminated duties on all imports of red meat and poultry in 2022 in an effort to contain food price inflation, and this policy remains in place.
Brazil is the latest beneficiary, exporting about 43,000 mt of pork to Mexico in 2024, which equated to 3% of Mexico’s imported pork market. Brazil now trails only the U.S. and Canada as Mexico’s third largest supplier. Heightened competition underscores the importance of duty-free access to Mexico, which also imports pork from Chile and some European suppliers.
Colombia’s demand for U.S. pork reached new heights in 2024, with exports soaring 26% to 142,035 mt, far exceeding the previous record (106,456 mt) reached in 2021. Export value jumped 32% to just under $360 million, shattering the previous (2023) high of $272 million. Shipments to Colombia were more than six times larger than in 2012, the year the U.S.-Colombia Trade Promotion Agreement took effect, as U.S. pork has penetrated the retail and foodservice sectors, along with further processing, with further room for growth.
Region-wide growth also pushed pork exports to Central America to an annual record in 2024, with shipments climbing 21% to 166,086 mt, valued at $522.9 million (up 29%). Exports to the region were nearly 30,000 mt above the previous year’s record, and value was more than $117 million above the previous record. Exports to the region increased by a massive 70% from 2019 to 2024, while export value more than doubled as U.S. pork continues to make impressive strides in the retail and foodservice sectors. Access to the region is fully duty-free except for Panama, which is inconsistent with its trade agreement commitments with the U.S. and other suppliers.
Other 2024 results for U.S. pork exports include:
- Despite a fourth quarter slowdown, pork exports to South Korea achieved an annual value record of $727.9 million, up 15% from 2023. Export volume was the second largest on record at 214,429 mt, up 12%, as Korea surpassed Canada as the fourth largest destination for U.S. pork.
- Fueled by an increase in U.S. market share in both Australia and New Zealand, exports to Oceania increased 29% from a year ago to 102,747 mt – the largest since 2019 and second largest on record. Export value soared 32% to a record $374.8 million. U.S. pork has limited market access in Oceania, but the region is a key destination for U.S. raw material for further processing and processed pork products. New Zealand also has a growing appetite for U.S. pork ribs.
- A solid performance in the Dominican Republic (DR), newfound demand in Cuba, and records to the Leeward-Windward Islands, Netherlands Antilles, Trinidad and Tobago, and Turks and Caicos pushed pork exports to the Caribbean to a record 127,237 mt, up 5% from a year ago, while value climbed 7% to a record $380.6 million. Despite Brazilian pork gaining a foothold in the DR, U.S. exports reached $277.1 million, slightly exceeding the previous value record set in 2023. Export volume totaled 96,650 mt, slipping 3% from the 2023 record. With Brazil capturing 12% market share, these strong results highlighted the importance of the DR’s continued growth in pork consumption.
- Record shipments to Malaysia and strong growth in the Philippines pushed pork exports to the ASEAN to 76,579 mt, up 19% from 2023. Export value increased 13% to $169.2 million. Exports to the Philippines increased 19% to 60,259 mt, valued at $120.8 million. Shipments to Malaysia increased 51% in both volume (7,796 mt) and value ($24.6 million), as imported pork continues to help offset lower domestic production – resulting from African swine fever – at a time of growing pork demand.
- Despite the persistently weak yen, Japan’s demand for U.S. pork held fairly steady in 2024, with volume down 2% year-over-year to 336,692 mt, while value fell 1% to $1.38 billion as the market adjusted to taking more frozen pork and less chilled, due in part to the exchange rate.
- Although pork exports to China/Hong Kong trended lower in 2024, China’s demand for pork variety meat regained momentum in the second half of the year. Total exports to the region were down 6% to 467,227 mt, while value fell 10% to $1.14 billion. This included 321,811 mt of pork variety meat – which is more than half of the U.S. industry’s global export volume – valued at $765 million.
- U.S. pork variety meat exports were record-large in volume in 2024 at nearly 590,500 mt. Mexico is the second largest market after China, and exports to Mexico were up slightly. But growth was driven mainly by the other markets rounding out the top five: the Philippines, Canada, and Korea.
- Pork export value per head slaughtered equated to $66.53 in 2024, up 4% year-over-year and the highest on record. Exports accounted for a record 30.3% of total production and 26.2% of muscle cuts, up from 29.6% and 25.4%, respectively, in 2023.
Beef exports post strong finish, with annual records in Caribbean and Central America
Mexico’s demand for U.S. beef was outstanding in 2024, with exports increasing 10% year-over-year to 232,488 mt, valued at $1.35 billion – up 13% and the highest since 2009. While a rapid start to the year was attributed in part to the strong peso, shipments held up well in the second half, even as the peso weakened by about 20% versus the dollar.
Brazil emerged as the second-largest beef supplier to Mexico (surpassing Canada and Nicaragua) with shipments of 46,000 mt, benefiting from duty-free access, as noted in the pork section. This again illustrates that it is imperative to maintain duty-free access for U.S. beef in Mexico and other markets covered by trade agreements.
Beef exports to Korea topped $2 billion for the fourth consecutive year, gaining 4% year-over-year to $2.22 billion. This was achieved despite a 6% drop in volume to 232,481 mt. Political turmoil in Korea, triggered by the impeachment and arrest of embattled President Yoon Suk Yeol following his declaration of martial law in early December, hasn’t slowed consumer demand for beef. However, the situation has further weakened Korea’s currency and dampened the economic outlook for the coming year.
After a slow start to the year, beef exports to Taiwan came on strong in the second half to reach 62,503 mt, up 4% year-over-year, valued at $709.2 million – up 13% and the second highest on record. The U.S. is the dominant supplier of chilled beef to Taiwan, holding 71% market share.
Other 2024 results for U.S. beef exports include:
Similar to pork, Japan’s demand for U.S. beef held fairly steady in 2024. Although export volume was down slightly from a year ago at 242,869 mt, value increased 3% to $1.87 billion. While Japan’s foodservice sector has benefited from record-high tourist arrivals and strong year-end wage increases (largely through bonuses), some segments like pub dining have yet to recover to pre-COVID sales levels.
Although beef exports to China/Hong Kong trended lower in 2024, shipments rallied late in the year to just under $2 billion in value (down 2% from 2023). Export volume fell 6% to 215,603 mt. As USMEF previously reported, China’s Ministry of Commerce recently opened a safeguard investigation on the impact of rising beef imports on domestic producers, with an investigation period of 2019 through June 2024. China’s overall beef imports set another record in 2024, mainly due to growth from South America.
Led by Egypt’s rebounding demand for beef variety meat and an increase in muscle cut shipments to Kuwait and Qatar, exports to the Middle East rebounded to 52,337 mt – up 18% year-over-year. Export value increased 12% to $230 million, and export value was record-large to Qatar, Jordan and Bahrain. Fourth quarter exports were hampered by an impasse with the United Arab Emirates (UAE) over halal certification. While this obstacle has been temporarily resolved, regaining full access to the UAE remains a top priority for the U.S. industry.
Record shipments to the DR, Cuba, the Leeward-Windward Islands, the Netherlands Antilles and Turks and Caicos pushed beef exports to the Caribbean up 18% from a year ago to a record 32,349 mt, while value increased 11% to $282.4 million – also the highest on record. Demand in the DR has been bolstered by surging tourism, but also robust growth in the retail sector. Shipments to Cuba are mostly canned beef along with frozen beef livers and some frozen beef cuts.
Fueled by the 11th consecutive year of record exports to leading market Guatemala and strong growth to Panama and Honduras, beef exports to Central America were also record-large in 2024. Exports topped previous highs reached in 2023 by 3% in volume (21,746 mt) and 7% in value ($160.2 million).
Beef exports to Colombia were stifled in 2024 by state-specific restrictions related to avian influenza in dairy cows, which began in April and were not removed until late September. Exports to Colombia had averaged more than $3 million per month prior to the restrictions. While demand has not fully recovered, December exports reached 310 mt valued at just over $2 million.
Beef export value per head of fed slaughtered equated to $415.08 in 2024, up 5% from 2023. Exports accounted for just under 14% of total production and 11.5% of muscle cuts, each ratio down slightly from a year ago.
Led by Caribbean and Mexico, U.S. lamb exports trend higher
Exports of U.S. lamb totaled 2,723 mt in 2024, up 16% year-over-year, while export value climbed 14% to $14.3 million. For lamb muscle cuts, exports totaled 2,003 mt valued at $11.8 million, each down slightly from 2023. The Caribbean and Mexico are the two largest destinations for U.S. lamb muscle cuts, and exports to the Caribbean were up 14% to 976 mt, valued at $7.1 million (up 13%), fueled in part by a doubling of shipments to the Bahamas. Exports to Mexico were the highest since 2019 at 759 mt, up 21% year-over-year as a wider range of cuts – including shoulder and flap meat – gained traction in Mexico’s foodservice sector. Export value to Mexico jumped 20% to $2.4 million. Lamb muscle cut exports also increased year-over-year to Guatemala, but trended lower to Canada and Panama.
Complete 2024 export results for U.S. pork, beef and lamb are available from USMEF’s statistics web page.
For questions, please contact Joe Schuele or call 303-547-0030.
NOTES:
- Export statistics refer to both muscle cuts and variety meat, unless otherwise noted.
- One metric ton (mt) = 2,204.622 pounds.
- U.S. pork and beef currently face retaliatory duties in China. In February 2020, China announced a duty exclusion process that allows importers to apply for relief from duties imposed in response to U.S. Section 301 duties. When an application is successful, the rate for U.S. beef can decline to the MFN rate of 12% and the rate for U.S. pork can decline to 37% (the MFN rate plus the 25% Section 232 retaliatory duty, which remains in place).
