ANALYSIS: 2024 Mexican Beef Export Dynamics

The Mexican beef export market throughout 2024 reflected the complex interplay of macroeconomic factors and trade dynamics, resulting in significant shifts in export patterns and market behavior.

Currency movements played a pivotal role in shaping market dynamics, particularly during the first half of the year when the Mexican peso showed unprecedented strength, reaching MXN 16.43 per USD, a level not observed since 2015. This currency appreciation created challenging conditions for export operations, as it effectively reduced the competitive advantage of Mexican beef in international markets. 

The market landscape underwent a substantial...

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