September 2023 U.S. beef exports weighed in at 232 million pounds, down 17% year over year and 13% lower than the average from 2018–22, according to the U.S. Department of Agriculture’s Livestock, Dairy, and Poultry Outlook: November 2023.
Total exports for the third quarter were 731 million pounds, nearly 20% lower year over year and 13% lower than the five-year average. Exports to countries in North America were up 12% year over year for the quarter.
Exports to the top four major Asian markets were lower year over year in September 2023, accounting for a combined decrease of more than 46 million pounds compared to last year, according to USDA. Third quarter exports were lower year over year to China (-32%), Japan (-30%), South Korea (-24%) and Taiwan (down less than 2%).
Year-to-date exports are the fourth highest for the time period, according to USDA .The annual forecast for 2023 is 3.035 billion pounds, lower than the previous two years. USDA forecasts 2024 U.S. beef exports will total 2.845 billion pounds, a year-over-year drop of 6%.
