Beef Highlights:

December 2023:
Beef: 83,300 mt, -6% and the highest since August; $760 million, +10% and the highest since August
BVM: 25,197 mt, +5% and the highest since June; $101 million, +12% and the highest since June
Beef + BVM: 108,497 mt, -4% and the highest since August; $861 million, +10% and the highest since August

January – December 2023:
Beef: 1.007 million mt, -15% and fourth highest on record, $8.842 billion, -15.5% and third highest on record
BVM: 285,486 mt, -4%; $1.128 billion, -9.5% and second highest on record
Beef + BVM: 1.292 million mt, -12.5% and fifth highest on record; $9.970 billion, -15% and third highest on record

December beef muscle cut exports totaled 83,300 mt, down 6% or -5,343 mt from last year. Compared to last year, beef muscle cut exports were higher to China/HK (+2,300 mt), Mexico (+1,020 mt), Central America (+480 mt), Middle East (+320 mt), and Caribbean + DR (+200 mt), while exports were steady to EU27 + UK and were lower to Japan (-6,090 mt), Korea (-1,400 mt), ASEAN (-1,080 mt), Taiwan (-660 mt), South America (-230 mt), and Canada (-170 mt). Exports to Mexico (10,570 mt, +11%) were the highest level since December 2020, while exports to Canada (7,500 mt, -2%) were slightly below year-ago levels. Exports to Korea (22,070 mt, -6%) were below year-ago levels, but were the highest level since May, and exports to Japan (14,660 mt, -29%) were second lowest level in 2023. Combined exports to China/HK totaled 15,280 mt and were up 18% from December 2022. Exports to both China (12,720 mt, +16%) and Hong Kong (2,560 mt, +27%) were above year-ago levels. Exports to the ASEAN (1,610 mt, -40%) were the lowest level since July 2016 with exports to the Philippines (620 mt, -23%) lower year-over-year for the ninth consecutive month, exports to Indonesia (350 mt, -8%) the lowest level since January, exports to Singapore (310 mt, -34%) the lowest level since June, and exports to Vietnam (170 mt, -80%) the lowest level since July. Exports to Taiwan (3,680 mt, -15%) were below year-ago levels. Exports to the Caribbean + DR (2,420 mt, +9%) were the second highest level on record, only 180 mt behind the record set in March. Exports to the Dominican Republic (1,040 mt, +18%) and the Turks and Caicos Islands (100 mt, +24%) were record high in December, exports to Trinidad and Tobago (130 mt, +21%) were the highest level since March, exports were also higher year-over-year to the Bahamas (290 mt, +21%) and Jamaica (200 mt, +55%), while exports were lower year-over-year to Netherlands Antilles (280 mt, -5%) and the Leeward-Windward Islands (140 mt, -11%). Exports to El Salvador (250 mt, +313%) set a record, exports to Guatemala (870 mt, +55%) were the fifth highest level on record, and exports were also above year-ago levels to Costa Rica (300 mt, +13%) and Panama (220 mt, +26%), while exports to Honduras (100 mt, -50%) were lower year-over-year. Overall, exports to Central America (1,750 mt, +38%) were the highest level since March 2022 and the fourth highest level on record. Exports to South America (1,060 mt, -18%) were below year-ago levels, but were the second highest level in 2023 following exports in November, with exports to Colombia (550 mt, -32%) lower year-over-year, but the second highest level in 2023, and exports to Chile (280 mt, -26%) below year-ago levels, while exports to Panama (170 mt, +282%) were above year-ago levels and were the highest level since March. Exports to the Middle East (1,380 mt, +30%) were the highest level since October 2022. Exports to the EU27 + UK (1,180 mt) were the lowest level in a year and were steady with December 2022.

December beef variety meat exports totaled 25,197 mt, up 5% or +1,149 mt from last year. Exports were higher than last year to Mexico (+1,660 mt), Korea (+510 mt), South America (+440 mt), and China/HK (+430 mt). Exports were steady to Central America, while exports were lower to Middle East (-1,060 mt), Africa (-480 mt), Canada (-380 mt), Caribbean + DR (-70 mt), Japan (-10 mt), and ASEAN (-1 mt). Exports to Mexico (10,750 mt, +18%) were the highest level since December 2019 and exports were above year-ago levels throughout 2023, while exports to Canada (500 mt, -43%) were below year-ago levels for the ninth consecutive month. Exports to Korea (1,250 mt, +69%) were higher year-over-year, while exports to Japan (3,870 mt, -0.4%) were slightly lower year-over-year, but were the highest level since June. Exports to the ASEAN (420 mt, -0.2%) were slightly below year-ago levels and were the lowest level since January. Combined exports to China/HK totaled 2,120 mt and were higher year-over-year with both exports to China (1,570 mt, +15%) and Hong Kong (550 mt, +73%) above year-ago levels. Exports to South America (870 mt, +100%) were higher year-over-year, with exports to Peru (620 mt, +163%), Chile (130 mt, +15%), and Colombia (80 mt, +29%) above year-ago levels. Exports to Central America (290 mt) were steady with December 2022, while exports to Caribbean + DR (350 mt, -64%) were below year-ago levels for the eighth consecutive month. Exports to Gabon (350 mt, +332%) were the highest level since May 2022, but were unable to fully offset the decreases to South Africa (360 mt, -64%), Cote d’Ivoire (260 mt, -23%), and Angola (80 mt, -23%), resulting in exports to Africa (1,080 mt, -31%) falling to the lowest level since November 2022. Exports to the Middle East (3,570 mt, -23%) were below year-ago levels, but reached the highest level in 2023.

2023 beef muscle cut + variety meat exports totaled 1.292 million mt, down 12.5% or -184,513 mt from last year. Exports to Central America (+720 mt) were record high in 2023, and exports were also higher to Mexico (+25,800 mt), Africa (+6,760 mt), and EU27 + UK (+770 mt). Exports were lower to Japan (-67,660 mt), China/HK (-48,030 mt), Korea (-45,760 mt), ASEAN (-23,960 mt), Middle East (-22,170 mt), Taiwan (-4,510 mt), South America (-3,510 mt), Canada (-1,870 mt), and Caribbean + DR (-1,350 mt).

December 2023 beef exports accounted for 11.9% of production and 14.4% when adding variety meats, compared to 12.4% and 14.8% in December 2022. January – December 2023 beef exports accounted for 11.7% of production and 14.0% when adding variety meats, compared to 13.0% and 15.2% for January – December 2022. 

December 2023 beef export value per head of fed slaughter averaged $431.50/head, up 11% or +$41.46/head from $390.04/head in December 2022.  January – December 2023 beef export value per head of fed slaughter averaged $397.04/head, down 11% or -$51.53/head from $448.57/head for January – December 2022.

Source: USMEF