US beef exports for the first ten months of 2023 reached almost 1.1 million tonnes and brought in revenues of more than $8.3 billion.

These figures represent a fall in volume of 13% and a decline of 17% in value year on year.

The president of the US Meat Export Federation, Dan Halstrom, said the beef sector had suffered from “economic headwinds in our largest Asian markets”, which he said had weighed on demand and encouraged consmers there to “trade down to lower-priced proteins”.

Mr Halstrom said the recovery in the food-service sector in Asia had been limited. “We remain hopeful that it will accelerate in 2024,” he added.

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