The US Meat Exporters Federation (USMEF) has released the US beef and pork export data for 2024. Despite beef export volumes being down slightly in 2024, the higher price per tonne meant that a new record value was set at $10.455m (€10.052m).
The US Meat Exporters Federation (USMEF) has released the US beef and pork export data for 2024.
Despite beef export volumes being down slightly in 2024, the higher price per tonne meant that a new record value was set at $10.455m (€10.052m).
This was up from $9.969m (€9.586m) the previous year, while the volume of beef exported in 2024 was 1.286m tonnes, a 1% decrease compared with 2023.
Markets
Five markets dominate US beef exports, split between Japan, South Korea and China in Asia and neighbours Canada and Mexico with which they share a border.
President Donald Trump has announced that they will be subject to a 25% import tariff - the introduction of which has been delayed by 30 days - as will China.
There is concern in the US meat industry and among beef producers that these countries may target US beef for retaliatory tariffs.
In 2024, Mexico was the second-largest market for US beef exports, taking 232,488t, while China and Hong Kong combined took 215,613t and Canada took 100,679t of US beef.
Pork exports
It was also a record year for US pork exports in both volume and value.
Export volumes passed 3m tonnes for the first time at 3.03m tonnes, beating the previous record of 2.98m tonnes set in 2020. The value of 2024 pork exports was $8.6m, 6% higher than the previous record, which was set in 2023.
The USMEF highlighted that the record pork exports to free trade agreement partners highlighted the importance of duty-free access for US pork, as well as beef exports.
They pointed out that Mexico eliminated duties on all red meat imports in 2022 to address food price inflation.
Markets
Mexico is the most important export market for US pork, taking 1.154m tonnes in 2024, a 5% increase on the previous year and one third of all US pork exports.
They are followed in second place by China-Hong Kong, which took 475,441t, which was 6% less than 2023, but reflected the fact that China pork imports in 2024 were the lowest for several years and the US accounted for almost half of these.
Japan is the next-largest market, taking 336,692t in 2024, followed by Canada on 212,439t. Central and South American countries accounted for just over 300,000t of US pork exports between them.
Comment
The US competes with Australia for being the second-largest beef-exporting country in the world and is the world's largest pigmeat exporter.
At 3m tonnes, US export volumes are twice what Brazil and Canada export and is comparable to the combined exports of all EU countries.
Therefore, pork as well as beef exports are vulnerable in any tariff trade war and both categories would likely be targeted if the US follows through on tariffs with Canada and Mexico.
These have been announced, but delayed until 4 March, and US pork and beef exports to these countries appear an obvious target for retaliatory tariffs.
A 10% tariff has already been levied on all imports from China and while they may wish not to escalate a tariff war, US beef and pork exports to that country are also vulnerable.
That there are no winners in a tariff war is a well-worn phrase and it is a space US beef and pork exporters will be watching with some anxiety, just as all trading partners of the US are, including Ireland and Irish dairy exports in particular.
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