Beef Highlights:

May 2023:

Beef: 89,198 mt, -16%; $775 million, -20%
BVM: 26,961 mt, -5%, but the highest since last May; $100 million, -16%, but the highest since November
Beef + BVM: 116,159 mt, -14%; $875 million, -19.5%

January – May 2023:

Beef: 436,458 mt, -11%, $3.639 billion, -21%
BVM: 117,611 mt, -5.5%; $448 million, -15%
Beef + BVM: 554,069 mt, -10%; $4.087 billion, -20.5%

May beef muscle cut exports totaled 89,198 mt, down 16% or -17,508 mt from last year. Compared to last year, beef muscle cut exports were higher to Canada (+1,950 mt), Taiwan (+440 mt), and EU27 + UK (+100 mt). Exports were lower to Japan (-8,600 mt), Korea (-4,180 mt), ASEAN (-1,900 mt), China/HK (-1,700 mt), Middle East (-1,300 mt), South America (-1,010 mt), Mexico (-610 mt), Central America (-460 mt), and Caribbean + DR (-240 mt). Exports to Canada (10,600 mt, +23%) were the highest level since December 2021, while exports to Mexico (7,550 mt, -7%) were below year-ago levels for the first time this year. Exports to Korea (22,140 mt, -16%) were lower year-over-year and exports to Japan (15,000 mt, -36%) were the lowest level since February 2016. Combined exports to China/HK totaled 18,790 mt with exports to Hong Kong (2,610 mt, +29%) above year-ago levels for the fourth consecutive month and exports to China (16,180 mt, -12%) below year-ago levels. Exports to Indonesia (1,240 mt, -33%), the Philippines (840 mt, -49%), Singapore (300 mt, -14%), and Vietnam (220 mt, -61%) were lower year-over-year resulting in exports to the ASEAN (2,750 mt, -41%) being below year-ago levels. Exports to Taiwan (6,070 mt, +8%) were above year-ago levels and were the highest level since April 2022. Exports to Netherlands Antilles (200 mt, +33%) and the Leeward-Windward Islands (150 mt, +1%) were higher year-over-year, while exports to the Bahamas (260 mt, -21%), Jamaica (130 mt, -27%), and Trinidad and Tobago (130 mt, -39%) were lower year-over-year, bringing exports to the Caribbean + DR (1,850 mt, -11%) below year-ago levels. Exports to Honduras (210 mt, +97%) were the eighth highest level on record, while exports were below year-ago levels to Guatemala (450 mt, -32%), Costa Rica (170 mt, -51%), Panama (80 mt, -40%), and El Salvador (40 mt, -79%), bringing exports to Central America (950 mt, -33%) to the lowest level since September 2020. Exports to South America (610 mt, -63%) were the lowest level since June 2020, brought upon by lower year-over-year exports to Colombia (270 mt, -63%) and Chile (180 mt, -76% and the lowest level since March 2011), however, exports to Peru (140 mt, +13%) were higher year-over-year. Exports to EU27 + UK (1,820 mt, +6%) were above year-ago levels for the fourth consecutive month. Exports to the Middle East (890 mt, -59%) were below year-ago levels.

May beef variety meat exports totaled 26,961 mt, down 4% or -1,339 mt from last year, but the highest since last May. Exports were higher than last year to Mexico (+2,070 mt), Korea (+820 mt), Africa (+620 mt), and Central America (+270 mt). Exports were lower to Middle East (-1,460 mt), China/HK (-1,160 mt), Japan (-890 mt), South America (-640 mt), ASEAN (-470 mt), Canada (-270 mt), and Caribbean + DR (-270 mt). Exports to Mexico (9,700 mt, +27%) were the highest level since December 2020, while exports to Canada (720 mt, -27%) were lower year-over-year. Exports to Korea (1,510 mt, +119%) were the highest level since December 2017, while exports to the ASEAN (970 mt, -33%) were below year-ago levels. Exports to Japan (4,290 mt, -17%) were lower year-over-year, but were the highest level since November. Exports to China/HK (3,530 mt, -25%) were below year-ago levels, but were the highest level since August 2022. Exports to China (2,140 mt, -46%) were lower year-over-year, but exports to Hong Kong (1,390 mt, +95%) were the highest level since April 2020. Exports to South America (690 mt, -48%) fell below year-ago levels for the first month this year, driven by lower year-over-year exports to Peru (390 mt, -27%), Colombia (230 mt, -5%), and Chile (80 mt, -86%). Exports to Central America (490 mt, +124%) were the seventh highest on record, while exports to Caribbean + DR (200 mt, -57%) were the lowest level since June 2017. Exports to South Africa (1,470 mt, +81%) were above year-ago levels for the fifth consecutive month. Exports to Egypt (2,800 mt, -35%) were below year-ago levels for the fifth consecutive month.

January – May beef muscle cut + beef variety meat exports totaled 554,069 mt, down 10% or -59,197 mt from last year. Exports were higher to Mexico (+9,580 mt), Africa (+4,210 mt), EU27 + UK (+960 mt), and Caribbean + DR (+150 mt). Exports were lower to Japan (-19,260 mt), Korea (-13,310 mt), Middle East (-12,100 mt), China/HK (-11,880 mt), ASEAN (-7,480 mt), Taiwan (-5,030 mt), South America (-3,020 mt), Canada (-1,000 mt), and Central America (-940 mt).

May 2023 beef exports accounted for 12.1% of production and 14.7% when adding variety meats, compared to 14.6% and 17.2% in May 2022. January – May 2023 beef exports accounted for 12.2% of production and 14.4% when adding variety meats, compared to 13.1% and 15.4% for January – May 2022. 

May 2023 beef export value per head of fed slaughter averaged $399.71/head, down 21% or -$105.31/head from $505.02/head in May 2022.  January – May 2023 beef export value per head of fed slaughter averaged $391.66/head, down 19% or -$91.84/head from $483.49/head for January – May 2022. 

Source: USMEF