Beef Highlights:

March 2023:

Beef: 94,828 mt, -6%, but the highest since October; $795 million, -18%, but the highest since October
BVM: 25,667 mt, +3% and the highest since August; $98 million, -7%
Beef + BVM: 120,495 mt, -5%, but the highest since October; $893 million, -17%, but the highest since October

January – March 2023:

Beef: 257,934 mt, -8%, $2.093 billion, -22%
BVM: 68,560 mt, -6%; $259 million, -14%
Beef + BVM: 326,494 mt, -8%; $2.353 billion, -22%

March beef muscle cut exports totaled 94,828 mt, down 6% or -6,521 mt from last year. Compared to last year, beef muscle cut exports were higher to Mexico (+1,370 mt), Caribbean + DR (+330 mt), ASEAN (+320 mt), and EU27 + UK (+70 mt). Exports were lower to Japan (-2,350 mt), Korea (-1,800 mt), Canada (-1,500 mt), China/HK (-1,280 mt), the Middle East (-740 mt), Taiwan (-500 mt), South America (-420 mt), and Central America (-20 mt). Exports to Mexico (8,640 mt, +19%) were higher year-over-year, while exports to Canada (7,180 mt, -17%) were below year-ago levels. Exports to Indonesia (1,340 mt, -2%) were lower year-over-year, but were the highest since October, while export to the Philippines (1,360 mt, +58.5%) were at the highest level since October, exports to Thailand (180 mt, +175%) were the eighth highest level on record, and exports to Singapore (400 mt, +2%) were also above year-ago levels, resulting in exports to the ASEAN (3,940 mt, +9%) being higher year-over-year. Exports to Japan (18,920 mt, -11%) were below year-ago levels and exports to Korea (24,140 mt, -7%) were lower year-over-year, but were the highest since May. Exports to China/HK (18,050 mt, -14%) were below year-ago levels with exports to China (15,600 mt, -14%) lower year-over-year, while exports to Hong Kong (2,450 mt, +110%) were above year-ago levels. Exports to Taiwan (5,710 mt, -8%) were lower year-over-year, but were the highest since August. Exports to the Dominican Republic (1,030 mt, +9.5%) were the highest level on record and exports were also above year-ago levels to the Bahamas (310 mt, +12% and the highest since May), Netherlands Antilles (280 mt, +14% and the seventh highest on record), Jamaica (270 mt, +58% and the highest since April), Trinidad and Tobago (180 mt, +12.5% and the eighth highest on record), the Leeward-Windward Islands (160 mt, +10% and the highest since December 2021), Bermuda (80 mt, +17% and the highest since April), and Barbados (80 mt, +39%), bringing the Caribbean + DR (2,600 mt, +14%) to the highest level on record. Exports to Honduras (290 mt, +12%) were the highest level on record and exports to Panama (250 mt, +3% and the highest since April) and El Salvador (100 mt, +28%) were above year-ago levels, while exports to Guatemala (790 mt, -5%) and Costa Rica (300 mt, -12%) were lower year-over-year, bringing exports to Central America (1,740 mt, -1%) slightly below year-ago levels. Exports to South America (970 mt, -30%) were lower year-over-year brought upon by below year-ago levels to Colombia (370 mt, -28%) and Chile (290 mt, -57%), while exports to Peru (230 mt, +49%) were at the sixth highest level on record. Exports to the EU27 + UK were above year-ago levels, while exports to the Middle East (980 mt, -43%) were lower year-over-year.

March beef variety meat exports totaled 25,667 mt, +3% or +730 mt from last year. Exports were higher than last year to Mexico (+1,130 mt), Africa (+770 mt), Korea (+570 mt), Canada (+300 mt), and South America (+290 mt).  Exports were lower to Middle East (-1,070 mt), ASEAN (-500 mt), Japan (-390 mt), China/HK (-250 mt), Caribbean + DR (-70 mt), and Central America (-40 mt). Exports to South Africa (1,670 mt, up from 380 mt) saw another strong month and were above year-ago levels. Exports to Mexico (8,820 mt, +15%) and Canada (850 mt, +54%) were higher year-over-year. Exports to Japan (4,030 mt, -9%) and the ASEAN (510 mt, -49.5%) were below year-ago levels, while exports to Korea (1,470 mt, +63%) were the highest since February 2020. Exports to Hong Kong (930 mt, +54%) were higher year-over-year, and besides last month’s large total, were at the highest level since March 2021, while exports to China (2,240 mt, -21%) were below year-ago levels, but were the highest level since September. Exports to South America (1,060 mt, +38%) were the highest level since October, driven by exports to Peru (640 mt, up significantly) which were the highest level since September. Exports to Central America (330 mt, -10%) were lower year-over-year and exports to the Caribbean + DR (330 mt, -17%) were at the lowest level since April. Exports to Egypt (3,120 mt, -26%) were below year-ago levels.

January – March beef muscle cut + beef variety meat exports totaled 326,494 mt, down 8% or -27,358 mt from last year. Exports were higher to Mexico (+6,860 mt), Africa (+3,110 mt), Caribbean + DR (+1,300 mt), and EU27 + UK (+400 mt). Exports were lower to Korea (-11,560 mt), Middle East (-8,160 mt), China/HK (-7,120 mt), Taiwan (-3,700 mt), Japan (-2,900 mt), Canada (-2,140 mt), ASEAN (-2,120 mt), South America (-780 mt), and Central America (-460 mt).

March 2023 beef exports accounted for 12.3% of production and 14.6% when adding variety meats, compared to 12.7% and 14.1% in March 2022. January – March 2023 beef exports accounted for 11.8% of production and 14.0% when adding variety meats, compared to 12.5% and 14.7% for January – March 2022. 

March 2023 beef export value per head of fed slaughter averaged $397.22/head, down 16% or -$75.51/head from $472.73/head in March 2022.  January – March 2023 beef export value per head of fed slaughter averaged $373.42/head, down 21% or -$100.68/head from $474.10/head for January – March 2022. 

Source: USMEF