Beef Highlights:

February 2020:
Beef : 84,919 mt, +22%, $589 million +18%
BVM: 27,102 mt, +8%, $82 million, +11%
Beef + BVM: 112,021 mt, +18%, $681 million, +17%

January – February 2020:
Beef: 166,261 mt, +12%, $1.068 billion, +11%
BVM: 53,134 mt, +3%, $166 million, +6%
Beef + BVM: 219,395 mt, +10%, $1.354 billion, +11%

U.S. beef muscle cut exports were the highest for the month of February in 2020 at 84,919 mt, up 22% or +15,100 mt from the previous year. Beef muscle cut exports were higher than last year to most regions including Japan (+5,700 mt), Korea (+5,700), Canada (+1,600 mt), the ASEAN (+1,000 mt), Taiwan (+700 mt), the EU (+640 mt), Central America (+540 mt), South America (+370 mt), Caribbean + DR (+230 mt), the Middle East (+220 mt).  Muscle cut exports were lower to China/HK (-940 mt) and Mexico (-780 mt).    Exports were lower to China/HK (-2,500 mt).  Exports to both Japan (23,444 mt, +32%) and Korea (22,028 mt, +35%) were significantly higher than last February, and it was the sixth highest month for beef exports to Korea since BSE.  Exports were lower year-over-year to Mexico (11,126 mt, -7%) but were higher to Canada (8,070 mt, +26% but comparing last year’s low level when exports to Canada were the lowest since 2007 in Feb and March).  Exports to Taiwan (4,825 mt, +17%) maintained momentum, but exports to China/HK (4,414 mt, -17%) dropped to the lowest level since 2012.  Exports just to Hong Kong totaled 3,882 mt, down 21%, while exports to China were up 23% to 532 mt (but were the lowest since last March).  Exports to the ASEAN markets were strong again in February  with higher year-over-year exports to the Philippines (1,137 mt, +39%), Vietnam (1,001 mt, +57%), Indonesia (856 mt, +39%), and Singapore (273 mt, +22%).  In Latin America exports were higher to top destinations including Chile (645 mt, +28%), Colombia (310 mt, +41%), the DR (561 mt, +2%), Guatemala (374 mt, +31%) and Costa Rica (289 mt, +71% and the fourth highest month on record).  Exports to the Bahamas (341 mt, +34%) were the highest since last March and exports were also higher to Netherlands Antilles (265 mt, +14%).  Beef exports to the United Arab Emirates (596 mt, +9%) and Kuwait (332 mt, +62%) were both the highest since March 2018.

February beef variety meat export volume was up 8% or +2,060 mt from 2019 to 27,012 mt.  Exports were higher to Mexico (+1,800 mt), Africa (+1,030 mt), Canada (+490 mt), South America (+470 mt), Korea (+190 mt), and the Caribbean + DR (+100 mt), while exports were lower year-over-year to China/HK (-1,250 mt), Japan (-410 mt), the Middle East (-250 mt), and the ASEAN (-110 mt).  Exports to Central America were steady.  Exports to Mexico (8,744 mt, +26%) were above year-ago levels for the 8^th consecutive month in February.  Exports to Egypt (5,786 mt, -5%) were the highest since last June but were lower year-over-year.  Exports to Japan (3,655 mt, -10%) were the lowest since February 2018, but export value was up 16% from last year.  Exports to Korea (1,504, +15%) were the highest since December 2017.  Exports to South Africa (1,261 mt, +88%) were quite large for February, with exports usually gaining seasonal momentum in the spring and reaching highs in the summer (with 1,879 mt as last year’s summer high for reference).  In Africa, exports were also higher to Gabon (349 mt, +22%), Mozambique (236 mt, +363% and the second highest month on record), and Cote d’Ivoire (234 mt, +134%), but exports were lower to Angola (78 mt, -33%).  Exports to Canada (1,132 mt, +77%) were the highest since 2015, and export value was up 95% year-over-year. Exports were lower to both Indonesia (699 mt, -23%) and the Philippines (540 mt, -8%) although exports to the Philippines rebounded to the highest level since last March.  Exports to Hong Kong (502 mt, -71%) were the lowest since 2015.  In South America, exports were higher to Peru (630 mt, +172%), Chile (212 mt, +25%), and Ecuador (119 mt, +143%) but were lower to Colombia (88 mt, -32%). Exports were also higher to Jamaica (389 mt, +36%).

For January – February, total beef/bvm exports were up 19,700 mt from last year, driven by growth across most regions including Japan (+4,600 mt), Korea (+5,800 mt), Canada (+2,700 mt), Mexico (+1,800 mt), Taiwan (+1,700 mt), Africa (+1,100 mt), the EU (+950 mt), South America (+890 mt), the Middle East (+850 mt), ASEAN (+780 mt), Central America (+510 mt), and Caribbean + DR (+390 mt).

February beef exports accounted for 12.4% of production and 15.3% when adding variety meats (the highest since last June), as compared to 11.0% and 13.9% in February 2019.  January – February exports accounted for 11.5% of beef production and 14.1% when adding variety meats, up from 10.7% and 13.5% last year.   

February beef export value per head of fed slaughter averaged $343.03/head, up $33.64/head or +11% from $309.39/head for February 2019 and the highest since December 2018.  January – February export value per head averaged $321.86/head, up $21.29/head or +7% from $300.57/head last year. 

SOURCE: USMEF