American Beef Export Trade Stats: October 2019
Beef Highlights
October 2019:
Beef : 81,715 mt, -9%, $570 million -12%
BVM: 26,302 mt, -6%, $80 million, -3%
Beef + BVM: 108,017 mt, -8%, $649 million, -11%
January – October 2019:
Beef: 831,603 mt, -4%, $5.952 billion, -4%
BVM: 267,739 mt, +3%, $797 million, +9%
Beef + BVM: 1.099 million mt, -2.5%, $6.750 billion, -2.5%
Beef muscle cut exports have been lower than last year each month so far this year, with October exports seeing the second sharpest decline (-8,300 mt) compared to last year after August (-9,000 mt year-over-year). In October, higher exports to the ASEAN (+890 mt), South America (+120 mt), Central America (+120 mt), Caribbean + DR (+40 mt), and Africa (+40 mt) were outweighed by lower exports to Japan (-5,100 mt), Mexico (-1,500 mt), Canada (-880 mt), China/HK (-830 mt), Taiwan (-490 mt), EU (-410 mt), Korea (-190 mt), Middle East (-50 mt), and the Russia region (-4 mt). Beef muscle cut exports to Japan dropped to the lowest level since December 2016 at 16,946 mt, -23% as buyers are waiting to import larger volumes once lower tariffs are implemented. Korea was the largest destination for U.S. muscle cut exports for the fifth month of 2019 in October at 18,818 mt, down 1% from last year. Exports were lower to Mexico (11,172 mt, -12%), Canada (7,882 mt, -10%), and Taiwan (5,100 mt, -9%). Exports to the China/HK region were the highest since last December at 9,960 mt, but were down 8% from last year. Exports to HK totaled 9,104 mt, down 11% but the highest since last December, while exports to China were 856 mt, up 52% from last year but down from 1,253 mt in September and the lowest since May. The ASEAN region led beef muscle cut export growth in October, with larger exports to Indonesia (1,450 mt, +30% and the second largest monthly volume after Sep 2019), the Philippines (1,405 mt, +9% and the third largest monthly volume on record following Sep 2019 and Apr 2019), and Singapore (550 mt, +143% and the second highest monthly volume after Dec 2010) and a record volume to Cambodia (161 mt), although exports were lower to Vietnam (1,769 mt, -2%). Exports to Chile were up 79% from last year at 677 mt in October, but remained below the summer highs of 968 mt – 1,115 mt exported for the months of April through August this year. In Central America, exports were lower to top market Guatemala (512 mt, -12%) but were higher to Costa Rica (256 mt, +38%). Beef exports to the DR slowed to the lowest level since January 2017 at 339 mt, -44% from last year, but exports were higher to the Bahamas (336 mt, +56% and the highest since March) and the Netherlands Antilles (212 mt, +20%). In the Middle East, exports were higher to the UAE (466 mt, +12%), but slowed to Kuwait (200 mt, -38%).
After being above year-ago levels from June – September, October BVM exports were down 6% or -1,600 mt from last year. BVM exports were higher year-over-year to Mexico (+800 mt), the ASEAN (+600 mt), Canada (+300 mt), and Africa (+20 mt) in October, while exports were lower to China/HK (-1,400 mt), Japan (-540 mt), the Middle East (-540 mt), South America (-370 mt), Korea (-340 mt), Central America (-90 mt), and the Caribbean + DR (-60 mt). BVM exports to Mexico have been above year-ago levels since July, and in October, exports were 9,267 mt, +9%. Year-to-date BVM exports to Egypt are up 1% from last year’s low level (the lowest since 2005), but in October, exports were down 10% year-over-year at 4,607 mt. Exports to Japan also slowed in October and were the lowest since February at 4,369 mt, down 11% from last year. BVM exports were higher to Indonesia (1,455 mt, +131%) but were lower to the Philippines (255 mt, -50%). Exports to South Africa increased from 780 mt in Aug and 948 mt in Sep to 1,234 mt in October, up 67% from last year, even as exports usually trend lower from the summer into the fall (although Oct exports were down from the summer high of 1,879 mt in July). Exports were also higher to Gabon (299 mt, +19%) but were significantly lower to Angola (184 mt, -48%) and Cote d’Ivoire (24 mt, -96% from 534 mt last Oct). BVM exports to Canada (909 mt, +52%) were the highest since July 2018. Exports to Korea were the lowest since June 2016 at 819 mt, down 29% from last year, and exports to HK were the lowest since Jan 2018 at 727 mt, down 65% year-over-year. In South America, exports were higher to Colombia (230 mt, +7%) and Ecuador (106 mt, +147%), while exports were lower to Peru (506 mt, -29%) and exports to Chile were just 5 mt, down from 281 mt last Oct and the lowest since Sep 2015. Exports to Jamaica (365 mt, -22%) were also lower.
For January – October, total beef and bvm exports were down 28,000 mt from last year as higher exports to Korea (+14,500 mt), the ASEAN (+12,000 mt), Taiwan (+3,800 mt), Caribbean + DR (+1,900 mt), Central America (+880 mt), the Middle East +730 mt), and the Russia region (+50 mt) were outweighed by lower exports to China/HK (-23,200 mt), Japan (-16,800 mt), Canada (-12,900 mt), Africa (-3,200 mt), Mexico (-2,600 mt), the EU (-2,600 mt), and South America (-470 mt).
October beef exports accounted for 10.5% of production and 12.9% when adding variety meats, as compared to 11.6% and 14.1% in October 2018. For January – October, beef exports accounted for 11.5% of production and 14.1% when adding variety meats, down from 12.1% and 14.6% last year.
October beef export value per head of fed slaughter averaged $284.56/head, down $32.97/head or -10% from $317.53/head for October 2018. For January – October, beef export value per head averaged $308.04/head, down $12.46/head or -4% from $320.50/head last year.
SOURCE: USMEF
