Production Challenges, Economic Headwinds Slow Red Meat Exports in May

To no one’s surprise, U.S. beef and pork exports trended lower in May, due in part to interruptions in slaughter and processing. According to the U.S. Meat Export Federation, beef exports dropped well below year-over-year levels and recorded the lowest monthly volume in ten years. May beef exports were down 33 % from a year ago to 79,200 metric tons, with value falling 34% to $480.1 million.

When it comes to the second half of the year, Dan Halstrom, USMEF President and CEO, expects things to rebound nicely in Asian markets, where countries are further along in their coronavirus recovery plans. However, the western hemisphere will be a slower recovery

“We do have some reservations regarding demand in a couple of key areas, one of them being Mexico, and Latin America, Central and South America, that region is still in the depths of lockdown due to COVID-19.  While we do expect a rebound, it’s probably going to be the last half of 2020.”

May pork exports totaled 243,800 metric tons, 12% above a year ago but down 13% from the monthly average for the first quarter of 2020. Export value was $620.9 million, up 9% year-over-year but 16% below the first quarter monthly average. 

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