Beef Highlights:

December 2022:

Beef: 88,551 mt, -7%; $692 million, -21.5%
BVM: 24,156 mt, -7%; $91 million, -18%
Beef + BVM: 112,707 mt, -7%; $783 million, -21%

January – December 2022:

Beef: 1.175 mt, +3% and a record year, $10.438 billion, +10% and a record year
BVM: 298,492 mt, -0.6%; $1.244 billion, +14.5% and a record year
Beef + BVM: 1.474 million mt, +2% and a record year; $11.7 billion, +10.5% and a record year

December beef muscle cut exports totaled 88,551 mt, down 7% or -7,006 mt from last year. Compared to last year, beef muscle cut exports were higher to Korea (+2,880 mt), Japan (+1,080 mt), Mexico (+570 mt), the ASEAN (+320 mt), Central America (+60 mt), and Caribbean + DR (+40 mt). Exports were lower to China/HK (-5,860 mt), Canada (-3,080 mt), Taiwan (-1,410 mt), South America (-1,150 mt), Middle East (-460 mt), and EU27 + UK (-50 mt). Exports to Korea (23,340 mt, +14%) and Japan (20,670 mt, +5.5%) were higher year-over-year. Exports slowed to the lowest level since February 2021 for China/HK (13,140 mt, -31%), with exports to China (10,980 mt, and the lowest level since February 2021) down 34% and exports to Hong Kong (2,160 mt) down 4%. Exports to Mexico (9,550 mt, +6%) were the highest since January 2021. Exports to Canada (7,670 mt, -29%) and Taiwan (4,340 mt, -24.5%) were lower year-over-year. Exports to the ASEAN (2,670 mt, +14%) were higher year-over-year, but were the second lowest level this year. Exports to Singapore (470 mt, +237%) were the highest level this year and the sixth highest ever recorded. Exports to Vietnam (820 mt, +70%) were higher year-over-year and exports to the Philippines (830 mt, +48%) were the second lowest this year, but were above year ago levels for the 11^th consecutive month. Exports to South America (1,270 mt, -47.5%) were lower year-over-year for the 6^th consecutive month. Exports to Guatemala (590 mt, +4%), Honduras (200 mt, +71%), Panama (170 mt, +27%), and El Salvador (+42%) were higher year-over-year, bringing Central America (1,320 mt, +5%) above year-ago levels. Exports to the Caribbean + DR (2,210 mt, +2%) were the fourth highest level on record after March 2022, August 2022, and April 2022, led by the Dominican Republic (880 mt, +8% and the third highest on record) and Netherlands Antilles (300 mt, +11% and the second highest on record). Exports were lower year-over-year to the EU27 + UK (1,180 mt, -4%) and the Middle East (1,000 mt, -31% and the lowest level since August 2021).

December beef variety meat exports totaled 24,156 mt, down 7% or -1,716 mt from last year. Exports were higher than last year to Africa (+350 mt), Canada (+220 mt), Central America (+130 mt), Japan (+110 mt), and the ASEAN (+70 mt). Exports were lower to China/HK (-840 mt), Mexico (-810 mt), Middle East (-470 mt), Korea (-390 mt), South America (-70 mt), and Caribbean + DR (-40 mt). Exports to South Africa (1,010 mt, +103%) and Cote d’Ivoire (340 mt, +137%) were higher year-over-year, bringing Africa (1,560 mt, +29%) above year-ago levels and to the highest level since May 2021. Exports to China (1,370 mt, -24%) and Hong Kong (350 mt, -54% and the lowest level since August 2015) were lower year-over-year. Exports to Canada (880 mt, +34%) were higher year-over-year. Exports to Mexico (9,140 mt, -8%) were below last year’s large exports, but were the highest this year. Exports to Central America (300 mt, +73%) were higher than a year ago, driven by Honduras (60 mt, up from 0 mt), Costa Rica (60 mt, up from 0 mt), El Salvador (50 mt, +200%), and Nicaragua (50 mt, +200%). Exports to Egypt (4,630 mt, -10%) were lower year-over-year. Exports to Japan (3,900 mt, +3%) and the ASEAN (420 mt, +20%) were higher year-over-year, but were the lowest level this year. Exports to Korea (740 mt, -34%), South America (440 mt, -14%), and the Caribbean + DR (390 mt, -9%) were lower year-over-year.

January – December beef muscle cut + beef variety meat exports totaled a record 1.474 million mt, up 2% or +33,926 mt year-over-year, with value at a record $11.68 billion, up 10.5% or +$1.1 billion. Exports were larger in volume than 2021 for China/HK (+37,470 mt), Korea (+11,610 mt), ASEAN (+10,550 mt), EU27 + UK (+5,490 mt), Caribbean + DR (+3,490 mt), Middle East (+2,040 mt), Taiwan (+1,720 mt), and Canada (+940 mt), while exports were lower to Mexico (-15,690 mt), Japan (-12,000 mt), South America (-6,090 mt), Africa (-5,070 mt), and Central America (-530 mt).

December 2022 beef exports accounted for 12.4% of production and 14.8% when adding variety meats, compared to 12.6% and 15.0% in December 2021. January – December 2022 beef exports accounted for 13.0% of production and 15.2% when adding variety meats, compared to 12.8% and 15.0% for January – December 2021. 

December beef export value per head of fed slaughter averaged $389.57/head, down 16% or -$74.84/head from $464.41/head in December 2021.  January – December 2022 beef export value per head of fed slaughter averaged $447.58/head, up 10% or +$40.37/head from $407.22/head for January – December 2021. 

Source: USMEF