Beef Highlights:

July 2023:

Beef: 79,586 mt, -22%; $718 million, -20%
BVM: 23,581 mt, -6%; $93 million, -16%
Beef + BVM: 103,167 mt, -18.5%; $810 million, -19%

January – July 2023:

Beef: 605,468 mt, -13%, $5.162 billion, -20%
BVM: 166,875 mt, -5%; $645 million, -13%
Beef + BVM: 772,343 mt, -11%; $5.807 billion, -19%

July beef muscle cut exports totaled 79,586 mt, down 22% or -22,009 mt from last year. Compared to last year, beef muscle cut exports were higher to Mexico (+2,270 mt), Canada (+1,160 mt), and Taiwan (+600 mt). Exports were steady to EU27 + UK, while exports were lower to Japan (-9,040 mt), China/HK (-7,360 mt), Korea (-5,760 mt), ASEAN (-2,810 mt), Caribbean + DR (-400 mt), Middle East (-400 mt), Central America (-150 mt), and South America (-90 mt). Exports to Canada (9,350 mt, +14%) were above year-ago levels for the third consecutive month. Exports to Mexico (8,560 mt, +36%) were above year-ago levels, while exports to Korea (16,230 mt, -26%) were the lowest level since June 2020. Exports to Japan (16,150 mt, -36%) were below year-ago levels for the fifth consecutive month. Combined exports to China/HK totaled 15,480 mt, the lowest level since January, driven by below year-ago levels to China (12,890 mt, -37%), while exports to Hong Kong (2,580 mt, +3%) were above year-ago levels for the sixth consecutive month. Exports to Singapore (410 mt, +2%) were at the highest level so far this year, while exports to Vietnam (80 mt, -92%) were the lowest level since June 2013, exports to the Philippines (460 mt, -75%) were the lowest level since December 2017, and exports to Indonesia (620 mt, -39%) were below year-ago levels, resulting in exports to the ASEAN (1,690 mt, -62%) being at the lowest level since July 2016. Exports to Taiwan (5,220 mt, +13%) were above year-ago levels for the third consecutive month. Exports to the Dominican Republic (690 mt, +10%) and to the Netherlands Antilles (260 mt, +15%) were higher year-over-year, while exports were steady to the Bahamas (230 mt), but the lowest level since October 2022, and exports were below year-ago levels to the Leeward-Windward Islands (120 mt, -22%), Trinidad and Tobago (80 mt, -80%), and Jamaica (70 mt, -60%), resulting in exports to the Caribbean + DR (1,760 mt -18%) lower year-over-year. Higher year-over-year exports to Guatemala (620 mt, +2%), Honduras (110 mt, +31%, but the lowest level so far this year), and Panama (150 mt, +84%) were unable to offset export declines to Costa Rica (140 mt, -52%), which were the lowest level since July 2021, and El Salvador (80 mt, -56%), resulting in exports to Central America (1,100 mt, -12%) being below year-ago levels for the 7^th consecutive month. Exports to South America (860 mt, -9%) were below-year ago levels with exports to Chile (300 mt, -30%) lower year-over-year, while exports to Colombia (370 mt, +15%) were the highest since January and exports to Peru (120 mt, +15%) were also above year-ago levels. Exports to the EU27 + UK (1,960 mt) were steady with last year and the second highest level so far this year. Exports to the Middle East (1,100 mt, -27%) were lower year-over-year, but the highest level since November 2022.

July beef variety meat exports totaled 23,581 mt, down 6% or -1,391 mt from last year. Exports were higher than last year to Mexico (+1,890 mt), Korea (+370 mt), Africa (+300 mt), South America (+210 mt), and Central America (+160 mt). Exports were lower to Japan (-2,330 mt), China/HK (-1,460 mt), ASEAN (-240 mt), Caribbean + DR (-160 mt), Middle East (-130 mt), and Canada (-70 mt). Exports to Mexico (9,100 mt, +26%) and Korea (1,100 mt, +51%) were above year-ago levels for the seventh consecutive month. Exports to Canada (620 mt, -11%) were lower year-over-year for the fourth month in a row. Exports to Japan (3,200 mt, -42%) were the lowest level since January and exports to the ASEAN (930 mt, -21%) were also below year-ago levels. Combined exports to China/HK totaled 2,590 mt with exports to China (1,791 mt, -45%) below year-ago levels and exports to Hong Kong (800 mt, -2%) slightly lower year-over-year for the first time since January. Exports to Colombia (170 mt, -53%) and Chile (150 mt, -34%) were below year-ago levels, while exports to Peru (960 mt) almost doubled from last year’s total (+98%), resulting in exports to South America (1,280 mt, +20%) reaching the highest level since June 2022. Exports to Central America (320 mt, +96%) were above year-ago levels, driven by higher year-over-year exports to Honduras (120 mt, up from 20 mt), Panama (80 mt, +51%), and Guatemala (70 mt, +76%). Exports to the Caribbean + DR (270 mt, -38%) were lower year-over-year. After six consecutive months of being above year-ago levels, exports to South Africa (580 mt, -16%) fell below year-ago levels and were the lowest level since November 2022, while exports to Cote d’Ivoire (490 mt, +103%) were the highest level since September 2022 and exports to Gabon (210 mt, up from 0 mt) were also higher year-over-year, bringing exports to Africa (1,430 mt, +26%) above year-ago levels, but the lowest level since November 2022. Exports to the Middle East (2,670 mt, -5%) continue to be below year-ago levels throughout 2023.

January – July beef muscle cut + beef variety meat exports totaled 772,343 mt, down 11% or -98,128 mt from last year. Exports were higher to Mexico (+16,790 mt), Africa (+5,710 mt), Canada (+1,210 mt), and EU27 + UK (+850 mt). Exports were lower to Japan (-37,850 mt), China/HK (-24,830 mt), Korea (-22,110 mt), Middle East (-15,340 mt), ASEAN (-13,510 mt), South America (-4,330 mt), Taiwan (-2,820 mt), Central America (-1,040 mt), and Caribbean + DR (-890 mt). 

July 2023 beef exports accounted for 11.8% of production and 14.2% when adding variety meats, compared to 14.1% and 16.4% in July 2022. January – July 2023 beef exports accounted for 12.1% of production and 14.4% when adding variety meats, compared to 13.3% and 15.5% for January – July 2022. 

July 2023 beef export value per head of fed slaughter averaged $403.63/head, down 15% or -$69.12/head from $472.75/head in July 2022.  January – July 2023 beef export value per head of fed slaughter averaged $395.65/head, down 17% or -$80.73/head from $476.38/head for January – July 2022. 

Source: USMEF