Beef Highlights:

October 2023:
Beef: 79,737 mt, -21%; $738 million, -11%
BVM: 24,709 mt, -3%; $98 million, -8%
Beef + BVM: 104,446 mt, -17%; $836 million, -11%

January – October 2023:
Beef: 847,487 mt, -15%, $7.389 billion, -18%
BVM: 237,059 mt, -5%; $933 million, -11%
Beef + BVM: 1.085 million mt, -13%; $8.322 billion, -17.5%

October beef muscle cut exports totaled 79,737 mt, down 21% or -21,401 mt from last year. Compared to last year, beef muscle cut exports were higher to Taiwan (+440 mt), Mexico (+310 mt), EU27 + UK (+270 mt), Central America (+260 mt), and Caribbean + DR (+120 mt). Exports were lower to China/HK (-8,740 mt), Korea (-6,170 mt), Japan (-4,980 mt), ASEAN (-1,770 mt), Canada (-640 mt), Middle East (-440 mt), and South America (-80 mt). Exports to Mexico (8,860 mt, +4%) were higher year-over-year and were the second highest so far this year following totals in August. Exports to Canada (7,740 mt, -8%) were below year-ago levels. Exports to Korea (17,110 mt, -27%) were lower year-over-year for the tenth consecutive month and exports to Japan (14,610 mt, -25%) were below year-ago levels for the eighth consecutive month. Combined exports to China/HK totaled 15,330 mt and were down 36% from the large total posted last October and were the lowest level since January. Exports to China (12,510 mt, -41%) were the lowest level since March and exports to Hong Kong (2,820 mt, -2%) were slightly lower year-over-year. Exports to the ASEAN (4,020 mt, -31%) were below year-ago levels, but were at the highest level since last October. Exports to Indonesia (1,500 mt, +3%) were the highest level since August 2022, exports to Singapore (440 mt) were steady and were the highest level this year, exports to the Philippines (1,520 mt, -43%) were lower year-over-year, but the highest since last October, and exports were also below year-ago levels to Vietnam (430 mt, -61%), but were the highest level since March. Exports to Taiwan (4,920 mt, +10%) were above year-ago levels. Exports to the Caribbean + DR (1,630 mt, +8%) were higher year-over-year, led by above year-ago exports to the Dominican Republic (640 mt, +10%), the Bahamas (260 mt, +34%), Netherlands Antilles (230 mt, +12%), and Jamaica (90 mt, +15%), while exports were below year-ago levels to the Leeward-Windward Islands (110 mt, -17%) and Trinidad and Tobago (80 mt, -29%). Exports to Costa Rica (520 mt, +73%) were the highest on record, and exports were also above year-ago levels to Panama (220 mt, +47%), Honduras (140 mt, +111%), and El Salvador (100 mt, +38%), while exports to Guatemala (710 mt, -13%) were lower year-over-year, but exports to Central America (1,690 mt, +18%) were able to stay above year-ago levels and were the second highest so far this year. Exports to South America (880 mt, -8%) were lower year-over-year with exports to Colombia (340 mt, -36%) and Peru (100 mt, -25%) below year-ago levels, while exports to Chile (330 mt, +61%) were higher year-over-year, but unable to offset the decrease in exports to other South American countries. Exports to the EU27 + UK (1,650 mt, +19%) were above year-ago levels, while exports to the Middle East (1,020 mt, -30%) were below year-ago levels, but the second highest level this year following exports in July.

October beef variety meat exports totaled 24,709 mt, down 3% or -660 mt from last year. Exports were higher than last year to Mexico (+1,840 mt), Korea (+610 mt), Africa (+560 mt), Central America (+120 mt), and China/HK (+100 mt). Exports were lower to the Middle East (-1,780 mt), ASEAN (-800 mt), Japan (-750 mt), South America (-230 mt), Caribbean + DR (-150 mt), and Canada (-140 mt). Exports to Mexico (9,590 mt, +24%) were above year-ago levels for the tenth consecutive month and were the highest level since June, while exports to Canada (810 mt, -14%) were below year-ago levels, but the highest level since March and the second highest level this year. Exports to Korea (1,590 mt, +63%) were the second highest level so far this year and when excluding the large total in June, were the highest level since January 2017. Exports to Japan (3,830 mt, -16%) were lower year-over-year, but the highest level since June, and exports to the ASEAN (750 mt, -52%) were also below year-ago levels. Combined exports to China/HK totaled 2,420 mt and were the first month of 2023 that was above year-ago levels with exports to China (1,940 mt, +16%) higher year-over-year, while exports to Hong Kong (480 mt, -25%) were below year-ago levels and were the lowest level since January. Exports to Colombia (510 mt, +47%) were the third highest level on record and were the highest since October 2021, while exports to Peru (380 mt, -36%) and Chile (50 mt, -75% and the lowest level since November 2020) were lower year-over-year, bringing exports to South America (950 mt, -19%) below year-ago levels. Exports to Central America (360 mt, +49%) were higher year-over-year and the second highest so far this year, while exports to the Caribbean + DR (470 mt, -24%) were lower year-over-year, but the second highest level so far this year. Exports to South Africa (400 mt, +57%) were above year-ago levels, but the lowest level this year, and exports to Cote d’Ivoire (260 mt, up from 50 mt) and Gabon (240 mt, up from 0 mt) were also above year-ago levels, bringing exports to Africa (1,110 mt, +103%) higher year-over-year, but the lowest level so far this year. Exports to the Middle East (2,840 mt, -39%) continue to be below year-ago levels throughout 2023.

January – October beef muscle cut + beef variety meat exports totaled 1.085 million mt, down 13% or -163,917 mt from last year. Exports were higher to Mexico (+22,660 mt), Africa (+6,640 mt), EU27 + UK (+1,120 mt), and Central America (+250 mt). Exports were lower to Japan (-56,900 mt), China/HK (-48,250 mt), Korea (-39,280 mt), ASEAN (-20,880 mt), Middle East (-20,400 mt), South America (-4,290 mt), Taiwan (-3,170 mt), Caribbean + DR (-1,480 mt), and Canada (-70 mt).

October 2023 beef exports accounted for 10.7% of production and 13.0% when adding variety meats, compared to 13.2% and 15.4% in October 2022. January – October 2023 beef exports accounted for 11.8% of production and 14.1% when adding variety meats, compared to 13.2% and 15.4% for January – October 2022. 

October 2023 beef export value per head of fed slaughter averaged $389.90/head, down 9% or -$38.14/head from $428.03/head in October 2022.  January – October 2023 beef export value per head of fed slaughter averaged $395.40/head, down 14% or -$65.39/head from $460.78/head for January – October 2022.

Source: USMEF