Beef Highlights:

February 2025:

Beef: 76,735 mt, -5%; $724 million, -2%
BVM: 21,463 mt, -8%; $76 million, -14%
Beef + BVM: 98,198 mt, -5.5%; $800 million, -4%

January – February 2025:

Beef: 153,737 mt, -2%; $1.442 billion, +2%
BVM: 47,301 mt, +2%; $162 million, -9%
Beef + BVM: 201,038 mt, -1%; $1.605 billion, +1%

February beef muscle cut exports totaled 76,735 mt, down 5% or -3,900 mt from 2024 and the lowest since January 2024.

Compared to the previous year, February beef muscle cut exports were higher to Canada (+1,569 mt) and Korea (+870 mt) and were steady to Japan.  Exports were lower to China/HK (-2,692 mt), Mexico (-1,297 mt), Taiwan (-1,082 mt), Middle East (-433 mt), South America (-316 mt), Caribbean + DR (-302 mt), ASEAN (-71 mt), Central America (-66 mt), Africa (-55 mt), and EU 27 + UK (-10 mt).

Exports to Japan rebounded to the highest level since August at 16,594 mt, which was steady with last year.

Exports to South Korea were up 5% from last year to 17,928 mt.  Exports have been higher than year-ago levels for five out of the last six months. 

After reaching the highest level in a year in December, exports to Mexico slowed in January and February.  February volumes totaled 8,400 mt, which was down 13% from last year.  Volumes have been below year-ago levels for the last three months.

Exports to Canada reached 7,759 mt in February, up 25% year-over-year and the highest since July.

Following strong shipments of over 6,100 mt in December, exports slowed to 3,140 mt in January before rebounding somewhat to 3,986 mt in February, which was down 21% from last year.

Combined exports to China/HK totaled 13,597 mt in February, down 16.5% from last year and the lowest since January 2024.  Exports to China slowed to 11,773 mt, down 15%, while exports to HK slowed to 1,824 mt, down 26%.

For the ASEAN region, exports were higher to the Philippines (1,102 mt, +29%) and Vietnam (204 mt, +18%) but lower to Singapore (225 mt, -37% and the lowest since 2021) and Indonesia (57 mt, -46%).

For the Caribbean, exports to the DR (795 mt, -17.5%) were lower than last year but were the highest since November.  After rebounding somewhat in January, shipments to Cuba slowed to 132 mt, down 65% from last year (and similar to the pace in Q4 2024).  Exports were higher to the Bahamas (314 mt, +36.5%).

Exports to Gautemala were 766 mt, down 17% from last year’s strong level.  Exports to Costa Rica maintained momentum at 335 mt in February, up 26% year-over-year (after topping 500 mt in January, which was one of the highest monthly totals on record).  Shipments were also higher to Panama (295 mt, +35%).

In South America, exports to Colombia slowed to 137 mt, down 77% year-over-year and the lowest since September.  Exports were higher year-over-year to Chile (312 mt, +27%) for the fourth consecutive month in February and to Peru (90 mt, +11%).

For the Middle East, exports to UAE rebounded to 315 mt, which was down 24% from last year but was the highest since September.  Exports slowed to Kuwait (211 mt, -47%) and Qatar (152 mt, -26%), and exports to Sauri Arabia (15 mt, -72%) were the lowest since August.

After strong shipments of nearly 26,000 mt in January, February beef variety meat exports totaled 23,243 mt, down 8% or -1,780 mt from the previous year, which was the lowest since January 2023.

Exports were higher than last year to ASEAN (+500 mt), Middle East (+415 mt), and Africa (+368 mt), while exports were lower to Japan (-1,070 mt), Mexico (-918 mt), South America (-446 mt), Korea (-404 mt), Caribbean + DR (-104 mt), China/HK (-52 mt), Canada (-30 mt), and Central America (-12 mt).

Exports to Mexico slowed to 9,145 mt, down 9% from last year and the lowest since June.

In January, exports to Canada were the highest in over ten years at 1,300 mt, but in February, volumes to Canada slowed to 644 mt, down 4% from last year and the lowest since October.

Exports to Japan (2,493 mt, -30%) slowed to the lowest level since 2020 in February and were below year-ago levels for the fifth consecutive month.

Exports to South Korea (612 mt, -40%) were below year-ago levels for the eleventh consecutive month.

Combined exports to China/HK slowed to 1,818 mt, down 3% from last year and the lowest January 2024.  Exports to China were 1,094 mt, down 21% from last year and the lowest since April 2023, while exports to HK were 724 mt, up 50% year-over-year and above year-ago levels for the seventh consecutive month.

For the ASEAN, exports to Indonesia increased to 379 mt, which was up significantly from last year and was the highest since September.  Exports to the Philippines were 60 mt, up significantly from last February but the lowest since September, and exports to Vietnam were 86 mt, up from 0 mt last year.  

Exports to Peru (154 mt, -64%) slowed to the lowest level since April 2022.  Exports to Chile (519 mt, -14%) were the highest since last February, but exports to Colombia (64 mt, -58%) were the lowest since last November.

Exports to Jamaica (146 mt, +5%) were higher year-over-year but were the lowest since September.

In January, exports to Egypt were the highest since December at nearly 4,000 mt.  Exports remained relatively strong in February at 3,340 mt, up 14% from last year.

There were no reported beef variety meat exports to South Africa in February for the first time since the market opened in 2016 (and for comparison, shipments were 336 mt last Feb).  But, beef variety meat exports were record high to Morocco (476 mt, +391%) and exports were also higher to Gabon (454 mt, +14%) and Cote d’Ivoire (349 mt, +157%).

January - February beef muscle cut + variety meat exports totaled 201,038 mt, down 1% or -2,660 mt from 2024.  Exports were higher year-over-year to Canada (+2,972 mt), China/HK (+1,524 mt), ASEAN (+526 mt), South Korea (+478 mt), Middle East (+233 mt), EU 27 + UK (+27 mt), and CIS (+3 mt).  Exports were lower to Japan (-3,117 mt), Mexico (-2,602 mt), Taiwan (-1,184 mt), South America (-865 mt), Caribbean + DR (-333 mt), Africa (-174 mt), and Central America (-97 mt).

February 2025 beef exports accounted for 11.9% of production and 14.2% when adding variety meats, compared to 11.6% and 14.0% in February 2024.  January – February 2025 beef exports accounted for 10.9% of production and 13.4% when adding variety meats, compared to 11.1% and 13.3% for January – February 2024. 

February 2025 beef export value per head of fed slaughter averaged $432.90/head, up 5% or +$20.10/head from $412.80/head in February 2024.  January – February 2025 beef export value per head of fed slaughter averaged $399.34/head, up 3.5% or +$13.53/head from $385.81/head for January – February 2024. 

Source: USMEF