DENVER — US pork exports are taking a backseat, as beef boasts its highest value in nearly two years, according to data released from the US Department of Agriculture and compiled by the US Meat Export Federation (USMEF). June’s beef export value topped $938.3 million, up 3% from last year and the highest since August 2022. Volume totaled 110,155 tonnes, down 4% year-over-year but the second largest in 2024.

Despite a difficult economic climate, Japan has reclaimed its position as the largest volume destination for US beef in 2024, improving 8% from a year ago. Beef shipments to Canada reached the largest in nearly a decade, and value jumped an impressive 29% since last June to $116.5 million. Taiwan exports also trended slightly higher than last year and notably reached the third largest volume on record.

Meanwhile, performance in South Korea dropped below 2023 but rebounded compared to May this year.

“June beef exports performed very well in Japan, which was great to see given the significant headwinds US beef has faced there this year,” said Dan Halstrom, USMEF president and chief executive officer. “Export value also rebounded nicely in Korea, and shipments to Taiwan and Canada were outstanding. This made for another strong month in terms of export value per head slaughtered, which was nearly $460 in June.”

June pork exports posted lower year-over-year performance, but shipments through the first half of the year remained ahead of the record value pace of 2023. Volume totaled 224,392 tonnes, the lowest since September and down 9% from last year. Value fell 5% to $659.7 million.

Bright spots in this lower-performing month included Korea, Central America and the Caribbean. Still the leading market, Mexico brought in slightly less shipments, but value increased. With a surge in Mexico’s domestic hog price last month, USMEF predicts accelerated pork exports in July.

“June was a slower month in a few of our key destinations for US pork, including Mexico and Colombia, where exports have been on a blistering pace and buying accelerated again in July,” Halstrom said. “But June was another terrific month for US pork in Korea, where exports could be record-large this year. Shipments also trended higher year-over-year to Central America and Canada, and it was encouraging to see export value per head slaughtered hold firm in the $66 range.”

US lamb exports made significant strides in volume, increasing 26% from last year to 191 tonnes. However, value dropped 16% year-over-year to $827,000. Through the first half of 2024, lamb exports climbed 12% in volume (1,485 tonnes) and 19% in value ($8 million). Shipments trended higher to the Caribbean, Mexico, the ASEAN region, Canada and Taiwan, while exports remained steady to Japan.