U.S. Beef Exports By Country

U.S. Beef Exports Down 3% From Last Year

U.S. beef exports for the first ten months of 2024 totaled 2.49 billion pounds, representing a 2.61% decline from the 2.56 billion pounds recorded during the same period in 2023. While Japan maintained its position as the top destination for U.S. beef exports at 543 million pounds, this figure remained unchanged from the previous year. However, significant shifts in export volumes to other countries have marked the year, highlighting both challenges and opportunities in the global beef trade.

South Korea and China, the second and third largest importers of U.S. beef, experienced substantial declines. Exports to South Korea fell by 8.84%, dropping from 560 million pounds in 2023 to 510.7 million pounds in 2024. Similarly, exports to China decreased by 8.02%, falling from 427.9 million pounds to 393.6 million pounds. These reductions may reflect a combination of slowing demand, competition from other beef-exporting nations, and economic pressures in these key markets.

In contrast, Mexico and the Philippines stood out as bright spots for U.S. beef exports. Exports to Mexico surged by 9.82%, climbing from 258.3 million pounds in 2023 to 283.7 million pounds in 2024. The Philippines showed even more dramatic growth, with a 38.81% increase to 40 million pounds, reflecting strong demand and increasing market penetration. Guatemala and Indonesia also posted positive growth, with increases of 8.70% and 2.87%, respectively, further diversifying the export landscape.

The overall decline in U.S. beef exports underscores the importance of adapting to changing market conditions. While traditional markets like South Korea and China showed weakness, emerging markets like the Philippines and Guatemala provided growth opportunities. This shift highlights the need for U.S. exporters to balance reliance on established markets with efforts to expand into new regions, ensuring the long-term sustainability of beef exports in an evolving global market.