Beef Highlights:

February 2023:

Beef: 82,859 mt, -1%; $673 million, -16%
BVM: 22,182 mt, -11%; $85 million, -17.5%
Beef + BVM: 105,041 mt, -3%; $758 million, -16%

January – February 2023:

Beef: 163,090 mt, -9%, $1.3 billion, -25%
BVM: 42,893 mt, -10%; $161 million, -18%
Beef + BVM: 205,983 million mt, -9.5%; $1.46 billion, -24%

February beef muscle cut exports totaled 82,859 mt, down 1% or -802 mt from last year. Compared to last year, beef muscle cut exports were higher to Japan (+1,350 mt), EU27 + UK (+610 mt), Caribbean + DR (+440 mt), Mexico (+440 mt), China/HK (+200 mt), and Korea (+170 mt). Exports were lower to Canada (-1,050 mt), Taiwan (-900 mt), South America (-760 mt), the ASEAN (-610 mt), Central America (-410 mt), and the Middle East (-340 mt). Exports to Japan (19,670 mt, +7%) and Korea (18,510 mt, +1%) were higher year-over-year. Exports to Indonesia (1,120 mt, +25%) were above year-ago levels, but were offset by lower year-over-year exports to the Philippines (1,050 mt, -12%), Singapore (260 mt, -25% and the lowest since December 2021), Vietnam (220 mt, -67%), and Thailand (90 mt, -60%), bringing exports to the ASEAN (2,850 mt, -17.5%) below year-ago levels. Exports to China/HK (16,710 mt, +1%) were higher year-over-year with exports to China (14,460 mt) remaining steady and exports to Hong Kong (2,250 mt, +12%) being above year-ago levels. Exports slowed to the lowest level since February 2007 for Canada (6,180 mt, -14.5%), while exports to Mexico (7,770 mt, +6%) were above year-ago levels. Exports to the Caribbean + DR (1,920 mt, +30%) were higher year-over-year led by the Dominican Republic (650 mt, +30%), Bahamas (300 mt, +47.5% and the highest since May 2022), Netherlands Antilles (250 mt, +17%), Jamaica (230 mt, +61% and the highest since April 2022), Barbados (90 mt, +57% and the highest since April 2022), Trinidad and Tobago (80 mt, 19%), and Bermuda (70 mt, +21%). Exports to Peru (170 mt, +28%) were the highest since June 2022, while exports to Colombia (310 mt, -64%) and Chile (300 mt, -48%) were lower year-over-year, bringing exports to South America (850 mt, -47%) below year-ago levels. Exports to El Salvador (120 mt, +21% and the highest since July 2022) and Honduras (110 mt, +8%) were higher year-over-year, while exports to Guatemala (780 mt, -5%), Costa Rica (190 mt, -57% and the lowest since July 2021), and Panama (160 mt, -46%) were below year-ago levels leading to exports to Central America (1,370 mt, -23%) being lower year-over-year. Exports to EU27 + UK (1,660 mt, +58.5%) were above year-ago levels, while exports to Taiwan (4,410 mt, -17%) and the Middle East (790 mt, -30%) were lower year-over-year.

February beef variety meat exports totaled 22,182 mt, -11% or -2,658 mt from last year. Exports were higher than last year to Mexico (+990 mt), Africa (+320 mt), Korea (+180 mt), Caribbean + DR (+120 mt), South America (+120 mt), Canada (+80 mt), and Central America (+10 mt). Exports were lower to the Middle East (-2,150 mt), Japan (-1,030 mt), China/HK (-990 mt), and the ASEAN (-330 mt). Exports to South Africa (1,950 mt, +32%) had another strong month and reached the seventh highest level on record and exports were also higher than a year-ago to Cote d’Ivoire (80 mt, +52%) bringing exports to Africa (2,170 mt, +17%) higher year-over-year. Exports to Mexico (7,810 mt, +14.5%) were above year-ago levels and exports to Canada (460 mt, +23%) were also higher year-over-year, but were at the lowest level since February 2022. Exports to Japan (4,210 mt, -20%) and the ASEAN (520 mt, -39%) were lower year-over-year, while exports to Korea (870 mt, +25%) were above year-ago levels. Exports to Hong Kong (1,090 mt, +20%) were the highest level since March 2021, while exports to China (1,130 mt, -51%) were below year-ago levels. Exports to South America (670 mt, +22%) were above year-ago levels driven by exports to Colombia (270 mt, +48%) and Peru (170 mt, +115%) which were higher year-over-year, while exports to Chile (210 mt, -21%) were below year-ago levels, but were the highest since August 2022. Exports to the Caribbean + DR (450 mt, +36%) and Central America (260 mt, +4%) were higher year-over-year. Exports to Egypt (2,510 mt, -46%) were below year-ago levels.

January – February beef muscle cut + beef variety meat exports totaled 205,999 mt, down 9.5% or -21,568 mt from last year. Exports were higher to Mexico (+4,370 mt), Africa (+2,270 mt), Caribbean + DR (+1,040 mt), and EU27 + UK (+330 mt). Exports were lower to Korea (-10,330 mt), Middle East (-6,360 mt), China/HK (-5,580 mt), Taiwan (-3,210 mt), ASEAN (-1,940 mt), Canada (-940 mt), South America (-650 mt), Central America (-410 mt), and Japan (-160 mt).

February 2023 beef exports accounted for 12.4% of production and 14.6% when adding variety meats, compared to 11.6% and 14.1% in February 2022. January – February 2023 beef exports accounted for 11.6% of production and 13.6% when adding variety meats, compared to 12.5% and 14.7% for January – February 2022. 

February 2023 beef export value per head of fed slaughter averaged $391.71/head, down 12% or -$54.24/head from $445.95/head in February 2022.  January – February 2023 beef export value per head of fed slaughter averaged $360.20/head, down 24% or -$114.66/head from $474.87/head for January – February 2022. 

Source: USMEF