US beef and beef by-product exports totaled 97,266 mt in May, down 12% and the lowest in nearly five years. Export value was $798.7 million, down 11.5% and the lowest in 18 months. Muscle cut exports accounted for 76,967 tons for US$ 716 million. January-May beef and by-product exports were down 5% from last year’s pace at 508,293 mt, while value declined 3% to $4.15 billion.
US beef posted an excellent May performance in leading market South Korea, with exports climbing 40% from a year ago to 25,228 mt, the largest since March 2023. Export value reached $233 million – up 39% and the highest since June 2022. These results pushed January-May exports to 106,867 mt, up 10% from the same period last year, with value up 12% to $1.02 billion, USMEF said.
Reinforcing and expanding demand in Korea is especially critical in light of the obstacles in China, particularly for cuts that command a premium in the Asian markets.
Due to both high tariffs and lack of eligible plants, May exports to China plunged to just 1,398 mt, down 91% from a year ago. Export value was $14.6 million, down 90%. Despite a relatively strong first quarter, January-May exports to China fell 31% to 51,418 mt, valued at $449.3 million (down 32%). US beef is currently subject to a 32% tariff in China, but expired plant registrations are an even more daunting obstacle, effectively closing the market. Even the few exporters still eligible to ship to China face tremendous uncertainty, with the possibility of rising retaliatory duties looming in August.
Beef exports to Japan saw mixed results in May, with volume up 4% to 21,791 mt, while value fell 5% to $156 million. Through the first five months of the year, exports to Japan were slightly below last year’s pace at 104,012 mt (down 1%), while value was down 3% to $773 million.
“The situation with China obviously had a severe impact on May exports, underscoring the importance of diversification and further development of alternative markets,” said USMEF President and CEO Dan Halstrom.
