USDA ERS released March trade statistics which finalized data for the first quarter of 2023. Beef exports totaled 779.0 million pounds for the first quarter of the year, down 7.9% or 66.7 million pounds from the same period last year.
Japan and Mexico posted increases for the first quarter of 0.2% and 17.8%, respectively, over last year to 186.4 and 77.6 million pounds. These increases were more than offset by double digit declines to South Korea, China, Canada, and Taiwan. South Korea fell 16.0% to 175.4 million pounds, China decreased 14.4% to 124.5 million pounds, Canada declined 11.8% to 57.5 million pounds, and Taiwan was 19.8% lower to 45.6 million pounds.
Total U.S. beef imports fell 2.9% or 28.1 million pounds to 956.5 million pounds during the first quarter. Lower beef imports from New Zealand (-4.5%), Mexico (-14.5%), and Brazil (-11.5%) more than offset higher levels from Canada (+7.9%) and Australia (+13.7%).
Source: Daily Livestock Report - Steiner Consulting Group - Full Article