Beef exports closed 2023 on encouraging note as per-head value exceeded $430
December exports of U.S. beef totaled 108,497 mt, down 4% year-over-year but the largest since August. Export value was also the highest since August and climbed 10% year-over-year to $860.8 million. 2023 beef exports totaled 1.29 million mt, down 12% from the 2022 record. While export value fell 15% to just under $10 billion, this was still the third highest annual value for beef exports.
“There is no question that 2023 was a challenging year for U.S. beef exports, especially in our largest Asian markets where economic conditions have weighed on foodservice demand,” Halstrom said. “Of course, we were also challenged on the supply side, with less product available for export.
But nevertheless, U.S. beef achieved excellent growth in Mexico, Central America and the Caribbean, and we are encouraged by the December uptick in demand in South Korea and China. It was also great to see such strong per-head export value in December, topping $430.”
December beef export value equated to $431.50 per head of fed slaughter, up 11% from a year ago and the highest since April. The 2023 average was $397.04 per head, down 11% from the record level ($448.57) posted in 2022. Exports accounted for 14.4% of total December beef production and 11.9% for muscle cuts, each down about one-half percentage point from a year ago. For 2023, these ratios were 14% of total production and 11.7% for muscle cuts – down from the record 15.2% and 13%, respectively, in 2022.
December exports of beef variety meats improved from a year ago, climbing 5% to 25,197 mt, while export value jumped 12% to $101 million. Both volume and value were the highest since June. For the full year, beef variety meat exports were down 4% year-over-year to 285,486 mt, while value fell 9% to $1.13 billion.
Source: USMEF
