US beef exports top $1 billion mark for the first time
US beef set a new record in August, topping $1 billion mark for the first time, announced the US Meat Export Federation (USMEF). August beef exports totaled 132,577 tonnes, up 21% from a year ago and the second-largest volume this year, while export value climbed 55% to $1.04 billion. From January through August, beef exports increased 18% from a year ago to 955,407 tonnes, with value up 34% to $6.62 billion. Exports were also 6% higher in volume and up 20% in value compared to the record pace established in 2018.
The August export results would be impressive under any circumstances, but achieving these totals despite all the COVID-related obstacles at home and overseas is truly remarkable. Obviously breaking the $1 billion mark in a single month is a huge milestone for US beef, and that’s not possible unless a wide range of markets are hitting on all cylinders Our transportation and labor situation is challenging, and customers continue to face an uncertain business climate due to foodservice restrictions and other economic headwinds. Yet international buyers remain committed to the quality and consistency delivered by US red meat, and the US industry has gone to tremendous lengths to keep shipments moving,” said USMEF President and CEO Dan Halstrom.
Japan, South Korea, China, Mexico, and Central America were the main destinations for US beef in August.
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