For the first four months of the year, beef exports are down 9% year over year from record exports in 2022 following a 12% decrease in April compared to last year. With beef production falling, a relatively strong dollar and some global macroeconomic weakness, a decrease in exports has been expected. Thus far in 2023, South Korea is the largest beef export destination, outpacing Japan in the months of March and April to achieve a 23.3% share of total beef exports. South Korea, along with Mexico were the only major beef export markets to be larger year over year in April.
July 13, 2023
Beef trade update falter