March beef exports record-large for the month; pork exports lagging

The U.S. exported 303.7 million lbs. of beef in March – a record for the month and the highest volume since August of last year. Beef shipments increased 49.3 million lbs. (19.4%) from February and were up 3.7 million lbs. (1.2%) from March 2021. Through the first quarter of this year, the U.S. exported 845.8 million lbs. of beef, up 49.4 million lbs. (6.2%) from the same period last year, driven by a nearly 62% surge in shipments to China. Beef exports to South Korea during the first quarter increased 8.2%, while shipments to Japan, the top market for U.S. beef, declined 7.4% during the period.

Pork exports in March totaled 544.2 million lbs., up 57.9 million lbs. (11.9%) from February’s weak performance, but down 184.7 million lbs. (25.3%) from the all-time high in March 2021. Through the first quarter of this year, U.S. pork exports at 1.541 billion lbs. lagged last year’s pace for the same period by 386.1 million pounds (20.0%). Pork shipments to China during the first quarter plunged nearly 73%, as its domestic production is outpacing demand and sharply reducing its imports.