Beef Highlights:

January 2025:

Beef: 77,002 mt, +0.5%; $718 million, +6%
BVM: 25,838 mt, +11% and the highest since May 2023; $86 million, -3%
Beef + BVM: 102,840 mt, +3%; $805 million, +5%

January beef muscle cut exports totaled 77,002 mt, up 0.5% or +380 mt from 2024.

Compared to the previous year, January beef muscle cut exports were higher to China/HK (+3,341 mt), Canada (+645 mt), Korea (+202 mt), EU 27 + UK (+89 mt), Caribbean + DR (+68 mt), and CIS (+4 mt), while exports were lower to Mexico (-2,033 mt), Japan (-1,617 mt), Middle East (-116 mt), Taiwan (-79 mt), ASEAN (-63 mt), South America (-54 mt), Central America (-15 mt), and Africa (-15 mt).   

After dropping to the lowest volume since 2016 in October, beef exports to Japan rebounded somewhat in November and December and were above 15,000 mt both months.  In January this trend continued with exports at 15,811 mt, the highest since August but still sluggish and down 9% from last year.

January exports to Mexico were the highest in a year at 10,031 mt and were the second highest monthly volume since January 2021.  But volumes slowed to 7,853 mt in January, down 21% year-over-year and the lowest since May 2023.

January exports to Canada were 7,157 mt, up 10% year-over-year.

In December 2024, exports to South Korea reached the highest level in a year at 21,619 mt.  In January, exports were 18,036 mt, up 1% year-over-year.

Following strong shipments of over 6,100 mt in December, exports slowed down to 3,140 mt in January, down 2.5% from last year.  

Combined exports to China/HK totaled 16,273 mt, up 26% from 2024 and above year-ago levels for the fourth consecutive month.  Exports to China were 14,114 mt, up 33% from 2024, while exports to HK were 2,159 mt, down 7% from 2024.

For the ASEAN region, exports were higher than last year to Singapore (331 mt, +17%) and Vietnam (209 mt, +27%), but exports were lower to the Philippines (927 mt, -16%) and Thailand (27 mt, -81%).  Exports to Indonesia were 66 mt, up from last January’s low level, but minimal for the second consecutive month. 

For the Caribbean, exports to the DR (716 mt, +17%) were higher year-over-year but were the lowest since last Jan.  The pace of shipments to Cuba slowed in Q4 2024, but in January, exports were 203 mt, down 43% from last year but the highest since September. Exports were significantly higher to the Bahamas (352 mt, +35%) and Turks and Caicos (138 mt, +86%).

After slowing In December, exports to Guatemala rebounded to 784 mt in January, which was down 7% from last year’s high level.  Exports to Costa Rica were 501 mt, up 88% and the third highest on record.

In South America, exports to Chile (280 mt) were up 43% from last year’s low level, but exports were lower to Colombia (268 mt, -32%) and Peru (88 mt, -37%).

For the Middle East, exports to Kuwait were 325 mt, up 10% from last year and the highest since last Feb.  Exports to the UAE reached 308 mt, down 34% from last year but the highest since September as volumes started to rebound from the Q4 slowdown.  Exports to Saudi Arabia were the highest since Dec 2023 at 156 mt, up 114% year-over-year.

January beef variety meat exports totaled 25,838, up 11% or +2,650 mt from the previous year and the highest since May 2023.

Exports were higher than last year to Mexico (+1,646 mt), China/HK (+927 mt), Canada (+788 mt), Middle East (+367 mt), ASEAN (+160 mt), and Caribbean +DR (+5 mt), while exports were lower to Africa (-472 mt), Japan (-456 mt), Korea (E-190 mt), South America (-49 mt), and Central America (-4 mt).  

Exports to Mexico were the highest since 2016 at 11,871 mt in January, up 16% from last year.

Exports to Canada were the highest since 2012 at 1,300 mt, up 154% year-over-year.

Exports to Japan (3,265 mt, -12%) were below year-ago levels for the fourth consecutive month.

Exports to South Korea (765 mt, -20%) were below year-ago levels for the tenth consecutive month.

Combined exports to China/HK totaled 2,485 mt, up 60% year-over-year as exports to China were 1,806 mt, up 56%, and exports to HK were 679 mt, +69%.

Exports to the ASEAN were minimal in January at 98 mt for the Philippines, up 23.5% from last year’s low level, 69 mt for Indonesia, up from 0 mt last year but the slowest since last Feb, and 39 mt for Vietnam, down 9%.

Exports to Peru (285 mt, -38%) slowed to the lowest level since Feb 2023.  Exports to Chile (100 mt, +37%) were higher than last year, while exports remained sluggish to Colombia (71 mt, -23%).

Exports to Jamaica (154 mt, -12.5%) were the lowest since September.

Exports to Egypt were the highest since December 2022 at 3,994 mt, up 10% from last year. 

Exports to South Africa slowed to just 49 mt, down 87% from last year and the lowest monthly volume since the market opened in 2016. Exports were higher to Cote d’Ivoire (327 mt, +2%) but were lower to Gabon (242 mt, -9%), and exports of 50 mt were reported to both Morocco and Tunisia.

January beef muscle cut + variety meat exports totaled 102,840 mt, up 3% or -3,030 mt from 2024.  Exports were higher year-over-year to China/HK (+4,268 mt), Canada (+1,433 mt), Middle East (+250 mt), ASEAN (+100 mt), Caribbean + DR (+70 mt), EU 27 + UK (+41 mt), and CIS (+4 mt).  Exports were steady to Korea but were lower to Japan (-2,073 mt), Africa (-487 mt), Mexico (-387 mt), South America (-103 mt), Taiwan (-79 mt), and Central America (-19 mt).

January 2025 beef exports accounted for 10.2% of production and 12.7% when adding variety meats, compared to 10.5% and 12.8% in January 2024.

January 2025 beef export value per head of fed slaughter averaged $371.37/head, up 3% or +$11.17/head from $360.20/head in January 2024.

Source: USMEF