Beef Highlights 

June 2019:
Beef : 90,482 mt, -0.3%, $645 million -0.4%
BVM: 28,195 mt, +13%, $80 million, +13%
Beef + BVM: 118,677 mt, +3%, $725 million, +1%

January – June 2019:
Beef: 490,299 mt, -3%, $3.556 billion, -1%
BVM: 158,466 mt, +0.2%, $473 million, +8%
Beef + BVM: 648,765 mt, -2%, $4.028 billion, -0.2%

June beef muscle cut exports were down just slightly from last year as higher exports to Korea (+3,450 mt), Taiwan (+1,900 mt), the ASEAN (+610 mt), South America (+420 mt), China/HK (+380 mt), the Caribbean + DR (+240 mt), and Africa (+30 mt) were offset by lower exports to Japan (-3,300 mt), Canada (-2,100 mt), Mexico (-920 mt), the EU (-680 mt), Central America (-200 mt), and the Middle East (-120 mt).  Beef muscle cut exports to Japan normally increase from May to June, but this year, exports slowed from 24,200 mt in May to 22,780 mt in June, down 13% from last year.  Korea surpassed Japan as the largest beef muscle cut destination for the second time this year in June with exports of 23,816 mt, up 17% and a new record high.  Beef muscle cut exports have been above year-ago levels for most months so far this year, but in June, exports slipped 8% below year ago levels at 10,976 mt, and exports to Canada were down 21% at 7,781 mt.  Combined exports to China/HK totaled 7,003 mt, up 6% from last year and the highest since December.  Exports directly to China were 877 mt, up 68% from last year and the highest since the market opened, while exports to HK were up slightly from last year at 6,126 mt.  June exports to Taiwan set a new record at 6,629 mt, up 40% from last year.  In the ASEAN region, exports were higher to the Philippines (1,126 mt, +24%), Vietnam (1,063 mt, +9% and the highest since December), and Indonesia (704 mt, +96%).  Exports to the DR maintained momentum and continued to surpass year-ago levels in June, up 59% to 585 mt.  Exports to Chile (1,068 mt, +61% and apart from May 2019 the highest since last Feb) and Guatemala (391 mt, +15%), the top markets in South and Central America were higher than last year. 

BVM exports were up 3,200 mt from last year in June, led primarily by growth to Japan (+2,000 mt) and the ASEAN (+850 mt), and a rebound to the Middle East from last year’s lows (+1,300 mt).  BVM exports to Japan were up 39% from last year at 7,014 mt, the highest since BSE.  Exports to the ASEAN were higher led by Indonesia (1,000 mt, +194% and the highest since January) and the Philippines (456 mt, +51%).  Exports to Egypt (5,798 mt, +28%) slowed from May (6,198 mt) but were above last year’s low levels.  Apart from 2017 and 2018, exports were to Egypt remain at the lowest level since 2011.  Exports to Mexico were 6,463 mt, down 4% from last year and the lowest since 2014.  Exports to HK were 1,010 mt, down 34% from last year and the lowest since last January.  Exports to South Africa moved seasonally higher into June reaching 1,434 mt, down 27% from last year but the highest since last June.  Exports to South Korea were up 25% from last year at 1,302 mt, the highest since February.  Exports to South America were lower for Peru (484 mt, -23%) and Colombia (322 mt, -10%) but were higher for Chile (222 mt, +49%).

For January – June total beef and bvm exports were down 14,100 mt from last year.  Exports were higher to Korea (+13,600 mt), the ASEAN (+4,900 mt), Taiwan (+4,300 mt),  the Caribbean + DR (+1,600 mt), Central America (+140 mt), and the Russia Region (+80 mt).  Exports were lower to China/HK (-18,900 mt), Canada (-9,600 mt), Mexico (-3,000 mt), Africa (-2,500 mt), the EU (-1,900 mt), Japan (-1,500 mt), Middle East (-770 mt), and South America (-160 mt).   

June beef exports accounted for 12.7% of production and 15.4% when adding variety meats, as compared to 12.3% and 14.5% in June 2018.  At 12.7% of production, the percentage of beef production exported was the highest since last July.  For January – June, beef exports accounted for 11.6% of production and 14.2% when adding variety meats, down from 11.9% and 14.6% last year.  

June beef export value per head of fed slaughter averaged $325.10/head, up $11.55/head or +4% from $313.56/head for June 2018.  For January – June, beef export value per head averaged $312.06/head, down $4.88/head or -2% from $316.94/head last year. 

SOURCE: USMEF