Beef Highlights:

September 2024:

Beef: 79,723 mt, +4%, but the third lowest this year; $756 million, +7%
BVM: 24,257 mt, +9%; $88 million, -3% and the lowest since February 2023
Beef + BVM: 103,980 mt, +5%; $844 million, +6%, but the third lowest this year

January – September 2024:

Beef: 745,721 mt, -3%; $6.986 billion, +5%
BVM: 215,093 mt, +1%; $838 million, steady
Beef + BVM: 960,814 mt, -2%; $7.824 billion, +4.5%

September beef muscle cut exports totaled 79,723 mt, up 4% or +3,305 mt from last year. Compared to last year, beef muscle cut exports were higher to Japan (+1,380 mt), Taiwan (+1,250 mt), ASEAN (+1,230 mt), Korea (+970 mt), Mexico (+770 mt), Caribbean + DR (+340 mt), Middle East (+330 mt), EU27 + UK (+220 mt), and Central America (+170 mt), while exports were lower to China/HK (-1,990 mt), Canada (-1,040 mt), and South America (-230 mt). Exports to Mexico (9,040 mt, +9%) were above year-ago levels, while exports to Canada (6,490 mt, -14%) were lower year-over-year and the second lowest level this year. Exports to Japan (15,590 mt, +10%) were higher year-over-year, but the lowest level this year, while exports to Korea (17,390 mt, +6%) were above year-ago levels for only the second time this year. Exports to Taiwan (4,700 mt, +36%) were above year-ago levels, but were the third lowest level this year. Combined exports to China/HK totaled 15,210 mt, down 12% from last September and below year-ago levels for the eighth month this year, with exports to China (11,960 mt, -15%) the second lowest level this year, while exports to Hong Kong (3,250 mt, +3.5%) were the highest level since October 2021. Exports to Indonesia (2,040 mt, +95%) were the highest level since April 2022 and were the fourth highest level on record, exports to the Philippines (980 mt, +23%) were also above year-ago levels, but were the second lowest level this year, and exports were also higher year-over-year to Vietnam (370 mt, +25%) and Thailand (110 mt, +49%), while exports were below year-ago levels to Singapore (370 mt, -7%). Overall, exports to the ASEAN (3,890 mt, +46%) were the third highest level this year. Exports to the Caribbean + DR (1,940 mt, +22%) were above year-ago levels for the 12^th consecutive month, but were the second lowest level this year, with exports to the Dominican Republic (730 mt, +18%) above year-ago levels, but the third lowest level this year, exports to Cuba (210 mt, +581%) the seventh highest level on record, and exports also higher year-over-year to the Netherlands Antilles (240 mt, +26%), the Bahamas (170 mt, +6%, but the lowest level in a year), and the Leeward-Windward Islands (130 mt, +74%), while exports were below year-ago levels to Jamaica (140 mt, -35%) and Trinidad and Tobago (100 mt, -24%). Exports to Guatemala (950 mt, +16%) were the fourth highest level on record and exports were also higher year-over-year to Honduras (180 mt, +202%) and El Salvador (90 mt, +53%), while exports to Costa Rica (230 mt, -24%) were below year-ago levels and exports to Panama (210 mt, -16%) were the second lowest level this year. Overall, exports to Central America (1,660 mt, +11%) were above year-ago levels. Exports to Chile (360 mt, +85%) were the highest level since December 2022 and exports to Peru (160 mt, +98%) were the highest level this year, while exports to Colombia (130 mt, -78%) were lower year-over-year, resulting in exports to South America (700 mt, -25%) below year-ago levels for eight out of the nine months reported for this year. Exports to the EU27 + UK (1,680 mt, +15%) were the second highest level this year and were above year-ago levels for the first time this year. Exports to the Middle East (1,240 mt, +36%) have been higher year-over-year every month this year, including September.

September beef variety meat exports totaled 24,257 mt, up 9% or +1,918 mt from last year. Exports were higher than last year to Mexico (+2,490 mt), China/HK (+500 mt), Japan (+430 mt), Canada (+380 mt), Central America (+100 mt), and South America (+30 mt), while exports were lower to Korea (-710 mt), Middle East (-450 mt), Africa (-400 mt), ASEAN (-260 mt), and Caribbean + DR (-190 mt). Exports to Mexico (10,650 mt, +30%) were the third highest level this year and exports to Canada (1,030 mt, +59%) were the second highest level this year. Exports to Japan (3,660 mt, +13%) were above year-ago levels, but were the third lowest level this year, while exports to Korea (690 mt, -51%) were below year-ago levels and were the second lowest level this year. Combined exports to China/HK totaled 2,460 mt, up 25% from last September and the highest level since July 2023, with exports to China (1,830 mt, +36%) the highest level since October 2023 and exports to Hong Kong (630 mt, +1%) the second highest level this year. Exports to the ASEAN (600 mt, -30%) were below year-ago levels, but the second highest level this year, with exports to Indonesia (480 mt, -22%) and Vietnam (70 mt, -48%) lower year-over-year, but the second highest level this year, and exports to the Philippines (50 mt, -43%) also lower year-over-year. Exports to Peru (980 mt, +180%) were the highest level since June 2022, while exports to Chile (130 mt, -11%) were lower year-over-year, resulting in exports to South America (1,210 mt, +2%) above year-ago levels and the second highest level this year. Exports to Panama (190 mt, +217%) were the highest level in three years and the eighth highest level on record and exports to Honduras (80 mt, +46%) were the third highest level this year, resulting in exports to Central America (390 mt, +37%) the highest level this year. Exports to the Caribbean + DR (290 mt, -40%) were the lowest level since July 2023. Exports to Morocco (220 mt, +219%) were the second highest level on record, while exports to Cote d’Ivoire (240 mt, -41%) were below year-ago levels, but the second highest level this year, exports to South Africa (330 mt, -34%) were the lowest level this year, and exports to Gabon (130 mt, -37%) were the third lowest level this year. Overall, exports to Africa (920 mt, -31%) were below year-ago levels for the 10^th consecutive month. Exports to the Middle East (2,340 mt, -16%) were the lowest level this year and were below year-ago levels for the first time following eight consecutive months of being above year-ago levels.

January – September beef muscle cut + variety meat exports totaled 960,814 mt, down 2% or -19,286 mt from last year. Exports were higher to Mexico (+20,340 mt), Middle East (+8,250 mt), Caribbean + DR (+4,270 mt), Japan (+1,940 mt), Central America (+660 mt), and ASEAN (+590 mt). Exports were lower to Korea (-19,510 mt), China/HK (-18,970 mt), Africa (-8,300 mt), EU27 + UK (-3,060 mt), South America (-2,410 mt), Canada (-2,050 mt), and Taiwan (-710 mt).

September 2024 beef exports accounted for 11.3% of production and 13.8% when adding variety meats, compared to 11.1% and 13.4% in September 2023. January – September 2024 beef exports accounted for 11.6% of production and 13.9% when adding variety meats, compared to 11.9% and 14.2% for January – September 2023. 

September 2024 beef export value per head of fed slaughter averaged $412.52/head, up 3% or +$13.81/head from $398.71/head in September 2023. January – September 2024 beef export value per head of fed slaughter averaged $414.62/head, up 5% or +$18.60/head from $396.02/head for January – September 2023. 

Source: USMEF