Beef Highlights:

April 2024:
Beef: 86,338 mt, -3%, but the highest since June; $801 million, +4% and the highest since June
BVM: 25,242 mt, +14% and the highest since June; $98 million, +9% and the highest so far this year
Beef + BVM: 111,580 mt, +0.1% and the highest since June; $899 million, +5% and the highest since June

January – April 2024:
Beef: 328,784 mt, -5%; $3.015 billion, +5%
BVM: 94,661 mt, +4%; $368 million, +5.5%
Beef + BVM: 423,445 mt, -3%; $3.383 billion, +5%

April beef muscle cut exports totaled 86,338 mt, down 3% or -2,988 mt from last year. Compared to last year, beef muscle cut exports were higher to Mexico (+2,350 mt), Japan (+970 mt), Caribbean + DR (+860 mt), Middle East (+630 mt), Canada (+340 mt), and Central America (+250 mt), while exports were lower to Korea (-4,000 mt), China/HK (-3,020 mt), EU27 + UK (-880 mt), Taiwan (-210 mt), ASEAN (-150 mt), and South America (-90 mt). Exports to Mexico (9,370 mt, +33%) were above year-ago levels and exports to Canada (7,910 mt, +4%) were also above year-ago levels and were the highest level since August. Exports to Japan (17,050 mt, +6%) were above year-ago levels for the first time since February 2023, while exports to Korea (19,330 mt, -17%) were below year-ago levels. Exports to Taiwan (5,400 mt, -4%) were lower year-over-year, but the highest level since August. Combined exports to China/HK totaled 16,440 mt, down 16% from April 2023, but the highest level since September. Exports to China (14,810 mt, -11%) were lower year-over-year, but the highest level since June, and exports to Hong Kong (1,630 mt, -41%) were also lower year-over-year and the lowest level since January 2023. Exports to the ASEAN (3,070 mt, -5%) were below year-ago levels, but the highest level since October, with exports to the Philippines (1,590 mt, +31%) the highest level since October 2022, exports to Vietnam (390 mt, +11%) the highest level since October, and exports were also higher year-over-year to Thailand (80 mt, +12%), while exports to Indonesia (710 mt, -43%) were below year-ago levels, but the highest level since October, and exports to Singapore (260 mt, -5%) were lower year-over-year and the lowest level since February 2023. Exports to the Caribbean + DR (2,410 mt, +55%) were the fifth highest level on record, driven by exports to the Dominican Republic (910 mt, +51%) which were the seventh highest level on record, record high exports to Cuba (430 mt, up from 0 mt), exports to the Cayman Islands (90 mt, +143%), which were the highest level so far this year, and higher year-over-year exports to the Bahamas (280 mt, +3%), Netherlands Antilles (240 mt, +21%), the Leeward-Windward Islands (120 mt, +2%), Trinidad and Tobago (100 mt, +56%), and Turks and Caicos Islands (80 mt, +56%), while exports were below year-ago levels to Jamaica (70 mt, -39% and the lowest level since June) and Bermuda (60 mt, -15%). Exports to Honduras (250 mt, +42%) were the fifth highest level on record, exports to Panama (290 mt, +184%) were the sixth highest level on record, and exports were also higher year-over-year to Guatemala (560 mt, +17%, but the lowest level since May 2023) and El Salvador (70 mt, +39%), while exports were lower year-over-year to Costa Rica (270 mt, -29%). Overall, exports to Central America (1,440 mt, +21%) were above year-ago levels, but the lowest level since July. Exports to South America (690 mt, -11%) were the lowest level since June 2023 with exports to Chile (310 mt, -8%) lower year-over-year, but the highest level so far this year, exports to Colombia (200 mt, -20%) the lowest level since June 2021, and exports to Peru (110 mt, -16.5%) below year-ago levels. Exports to the Middle East (1,600 mt, +65%) were the highest level since August 2022. Exports to the EU27 + UK (1,470 mt, -37%) were below year-ago levels for the fourth consecutive month.

April beef variety meat exports totaled 25,242 mt, up 14% or +3,152 mt from last year. Exports were higher than last year to Mexico (+4,280 mt), China/HK (+450 mt), Middle East (+390 mt), Japan (+270 mt), Caribbean + DR (+70 mt), and Central America (+50 mt), while exports were lower to Korea (-900 mt), Africa (-770 mt), ASEAN (-230 mt), Canada (-230 mt), and South America (-220 mt). Exports to Mexico (11,660 mt, +58%) were the highest level since December 2016, while exports to Canada (340 mt, -41%) were the lowest level since July 2006. Exports to Japan (3,980 mt, +7%) were the highest level since May 2023, while exports to Korea (600 mt, -60%) were the lowest level since November 2021. Combined exports to China/HK totaled 2,230 mt and were above year-ago levels and the highest level so far this year, with exports to China (1,710 mt, +79%) the highest level since October, while exports were lower year-over-year to Hong Kong (510 mt, -38%). Exports to the ASEAN (780 mt, -23%) were lower year-over-year, but were the highest level since September. Exports to South America (640 mt, -26%) were below year-ago levels and the lowest level since January 2023, with exports higher year-over-year to Chile (280 mt, +27.5%), while exports to Peru (350 mt, -36%) were lower year-over-year and the lowest level since February 2023. Exports to the Caribbean + DR (480 mt, +18%) were above year-ago levels and exports to Central America (340 mt, +17%) were also above year-ago levels and were the highest level so far this year. Exports to Morocco (130 mt, +77.5%) were the second highest level on record and exports to Gabon (240 mt, +81%) were higher year-over-year, while exports to South Africa (500 mt, -64%) were lower year-over-year, but the highest level since September, and exports to Cote d’Ivoire (50 mt, -50%) were below year-ago levels, resulting in exports to Africa (920 mt, -45%) below year-ago levels. Exports to the Middle East (3,280 mt, +13%) were higher year-over-year for the fourth consecutive month.

January – April beef muscle cut + variety meat exports totaled 423,445 mt, down 3% or -14,470 mt from last year. Exports were higher to Mexico (+12,620 mt), Middle East (+5,250 mt), Caribbean + DR (+2,330 mt), and Central America (+520 mt). Exports were lower to Korea (-9,810 mt), China/HK (-6,570 mt), Japan (-5,350 mt), Africa (-4,380 mt), ASEAN (-3,940 mt), Taiwan (-2,850 mt), EU27 + UK (-1,940 mt), Canada (-150 mt), and South America (-140 mt).

April 2024 beef exports accounted for 11.7% of production and 14.1% when adding variety meats, compared to 13.5% and 15.7% in April 2023. January – April 2024 beef exports accounted for 11.6% of production and 13.9% when adding variety meats, compared to 12.2% and 14.4% for January – April 2023. 

April 2024 beef export value per head of fed slaughter averaged $416.87/head, down 6% or -$24.79/head from $441.66/head in April 2023. January – April 2024 beef export value per head of fed slaughter averaged $410.25/head, up 5% or +$20.73/head from $389.52/head for January – April 2023.

Source: USMEF