U.S. beef exports in May set a value record at $722.1 million, up 24 percent from May 2017, according to data released by the U.S. Department of Agriculture (USDA) and compiled by the U.S. Meat Export Federation (USMEF).

Beef export volume was 117,871 metric tons, the sixth largest on record, the USMEF reported.

Through the first five months of 2018, beef exports were up 10 percent in volume to 547,157 metric tons, while export value was $3.32 billion, 21 percent above last year’s record pace.

Japan and South Korea continue to be...