U.S. beef exports exceed $700 million despite record prices

By Olivia Hart

U.S. beef export value topped $700 million in September, up 8% from a year earlier despite record-high prices, according to U.S. Meat Export Federation (USMEF) data. Tonnage sold edged up about 1%, leaving year-to-date export value at roughly $7 billion, on par with last year, even as volume ran about 6% lower.

USMEF's figures, dated Nov. 9, 2026, show buyers spending more on a similar quantity, but they do not show what U.S. cattle producers received after production and input costs. The record-price claim has no benchmark attached, and no cattle-price, feed-cost or basis figures accompany the data. Export value alone cannot establish a change in farm margins.

Which markets are driving U.S. beef demand?

USMEF President and CEO Dan Halstrom credits Asia for much of the strength. Taiwan ranks among the most valuable markets for U.S. chilled beef and is on pace for a record year. South Korea, the top customer by value, posted a 15% sales increase; Halstrom projects Korean buyers will spend more than $2 billion on U.S. beef this year.

"Global customers continue to show a powerful and loyal appetite for U.S. beef," Halstrom said. He noted that consumers worldwide still prioritize high-quality protein despite tighter budgets. The available figures do not test that loyalty claim with consumer spending data.

Taiwan's record pace and Halstrom's projected Korean spending of more than $2 billion both depend on the rest of the year. The figures provide no Taiwan sales total or Korean product breakdown, and the projected sum is not a reported total.

The 8% value gain also outpaced the roughly 1% monthly volume increase. Without unit prices or a product mix, the figures do not show how much of the difference came from price rather than the mix of beef sold.

For now, Asian demand supports beef sales, but the figures do not establish how long that strength will last.

Why is pork moving in the opposite direction?

U.S. pork exports fell for the fifth consecutive month. September volume dropped 8%, while value fell nearly 14% to just under $600 million. The report attributes the weakness to competition from Brazil and Spain and to Chinese tariffs.

Latin America remained the bright spot, with Cuba making a record U.S. pork purchase in September. The figures provide no dollar or tonnage total for that purchase and do not say whether the record measures volume or spending, so they cannot quantify Latin America's contribution.

The contrast within the report is clear: beef is holding sales value while pork contracts in both volume and revenue. Species-level cost data are absent, so the figures do not show which segment has the wider margin advantage.

Beef sales held up in September, while pork faced competition from Brazil and Spain and Chinese tariffs.

What changed for lamb?

U.S. lamb exports rebounded in September, with volume up 17% and value up 10%. The figures give no total value, leading destination or price explanation for the increase, so the scale and durability of the rebound remain unmeasured.

One month of growth improves lamb's September result, but it does not establish a sustained recovery.

Can beef sustain the higher prices?

Reading the monthly and year-to-date numbers together requires care. September brought an 8% increase in value and a 1% increase in tonnage; the year sits flat in value and 6% lower in volume.

Those are different reporting windows, not two descriptions of the same trade change. The data also do not state the collection method or revision practice, and they contain no production figures with which to test whether cattle supply, procurement costs or farm margins shaped the result.

The next monthly releases will show whether Asian demand can sustain record beef prices and annual value near $7 billion, and whether pork and lamb movements narrow or widen the gap among U.S. meat exports.