Beef Highlights:

November 2022:

Beef: 91,962 mt, -6.5%; $744 million, -20.5%
BVM: 23,815 mt, -6%; $103 million, -12%
Beef + BVM: 115,777 mt, -6%; $847 million, -19.5%

January – November 2022:

Beef: 1.087 mt, +4%, $9.746 billion, +13%
BVM: 274,446 mt, 0%; $1.154 billion, +18%
Beef + BVM: 1.361 million mt, +3%; $10.9 billion, +13%

November beef muscle cut exports totaled 91,962 mt, down 6.5% or -6,381 mt from last year. Compared to last year, beef muscle cut exports were higher to ASEAN (+1,450 mt), Canada (+440 mt), and Caribbean + DR (+30 mt). Exports were lower to Japan (-2,900 mt), China/HK (-1,460 mt), Taiwan (-1,080 mt), South America (-820 mt), Central America (-520 mt), Korea (-510 mt), Mexico (-490 mt), Middle East (-440 mt), and EU27 + UK (-40 mt). Exports to the ASEAN region (3,650 mt, +65%) were higher than last year driven by Vietnam. Exports to Vietnam (1,240 mt, +211%) were the highest since November 2020.  Exports to the Philippines (1,190 mt, +87%) and Indonesia (730 mt, +10%) were also higher year-over-year. Through November, beef muscle cut export volume to the Philippines was 28% higher than the total of 2019, which was the previous volume record. Exports slowed slightly compared to last year to Korea (22,500 mt, -2%) and the EU27 + UK (1,720 mt, -2%) in November. Exports to Central America (1,640 mt, -24%) were the highest since March of this year, but were lower compared to last year’s highest volume in November. Exports to Guatemala (880 mt, -14%) were lower than last year’s record total, but were the second highest ever recorded. Through November, beef muscle cut export volume to Guatemala already surpassed 2021’s total volume, which was the previous volume record. Exports to Canada (8,250 mt, +6%) were higher year-over-year. Exports to China/HK (17,590 mt, -8%) slowed to the second lowest level this year, with exports to China (14,960 mt) down 9% and exports to Hong Kong (2,630 mt) only down 0.5%. Exports to the Caribbean + DR were higher year-over-year driven by the Dominican Republic (720 mt, +9%). Exports were also higher to the Leeward-Windward Islands (160 mt, +43%) and were the highest so far this year. Exports to Mexico (8,600 mt, -5%) were lower year-over-year, but were the highest so far this year. Exports were also lower year-over-year to Japan (19,210 mt, -13%), Taiwan (4,320 mt, -20%), South America (1,230 mt, -40%) and the Middle East (1,310 mt, -25%).

November beef variety meat exports totaled 23,815 mt, up 6% or -1,480 mt from last year. Exports were higher than last year to China/HK (+840 mt), Korea (+830 mt), Canada (+480 mt), ASEAN (+170 mt), and Central America (+40 mt). Exports were lower to Middle East (-1,710 mt), Japan (-800 mt), Africa (-420 mt), South America (-410 mt), Caribbean + DR (-260 mt), and Mexico (-250 mt). Exports to China (1,910 mt, +92%) were higher year-over-year, while exports to Hong Kong (730 mt, -9%) slowed. Exports to Korea (1,110 mt, +295%) were higher year-over-year and were the highest so far this year. Exports to South America (530 mt, -44%) were the lowest since January, with volume down to Peru (290 mt, -43%), Colombia (150 mt, -29%), and Chile (90 mt, -54%). Exports were higher than a year ago to Canada (920 mt, +111%), but exports slowed to Africa (590 mt, -42%) to the second lowest level this year. Exports to South Africa picked up from 256 mt in October to 374 mt in November, but volumes have remained sluggish for most months since late 2022.  Exports to Central America (260 mt, +16%) were higher than a year ago, driven by Guatemala (60 mt, +65%) and El Salvador (50 mt, up from 0 mt). Exports to Egypt (3,210 mt, -35%) were lower year-over-year. Exports slowed to Mexico (4,630 mt, -15%), but were the highest so far this year. Exports to the ASEAN region were higher year-over-year, but were the lowest level so far this year. Exports to Japan (4,630 mt, -15%) and the Caribbean + DR (460 mt, -36%) were lower year-over-year.

January – November beef muscle cut + beef variety meat exports totaled 1.361 million mt, up 3% or +42,648 mt from last year. Exports were higher to China/HK (+44,170 mt), ASEAN (+10,160 mt), Korea (+9,110 mt), EU27 + UK (+5,540 mt), Canada (+3,800 mt), Taiwan (+3,120 mt), Caribbean + DR (+3,490 mt), Middle East (+2,960 mt). Exports were lower to Mexico (-15,450 mt), Japan (-13,200 mt), Africa (-5,440 mt), South America (-4,870 mt), and Central America (-720 mt).

November 2022 beef exports accounted for 11.9% of production and 13.9% when adding variety meats, compared to 12.9% and 15.2% in November 2021. January – November 2022 beef exports accounted for 13.0% of production and 15.2% when adding variety meats, compared to 12.8% and 15.0% for January – November 2021. 

November beef export value per head of fed slaughter averaged $382.46/head, down 20% or -$98.21/head from $480.67/head in November 2021.  January – November 2022 beef export value per head of fed slaughter averaged $452.42/head, up 13% or +$50.33/head from $402.09/head for January – November 2021. 

Source: USMEF