Beef Highlights:

March 2019:
Beef: 81,279 mt, -5%, $600 million, -3%
BVM: 26,376 mt, +0.2%, $78 million, +4%
Beef + BVM: 107,655 mt, -4%, $678 million, -2%

January – March 2019:
Beef: 229,262 mt, -5%, $1.668 billion, -2%
BVM: 78,044 mt, +1%, $234 million, +8%
Beef + BVM: 307,306 mt, -3%, $1.902 billion, -0.8%

In March, higher U.S. beef muscle cut exports to Korea (+2,100 mt), Mexico (1,200 mt), the Caribbean + DR (+320 mt), South America (+230 mt), Taiwan (+180 mt), the ASEAN (+170 mt), and Central America (+170 mt) were outweighed by lower exports to China/HK (-3,800 mt), Japan (-2,100 mt), Canada (-1,150 mt), Africa (-900 mt), the Middle East (-480 mt), and the EU (-290 mt) compared to last year.  Exports to Korea (19,484 mt) and Mexico (11,047 mt) were both up 12% from last year.  Exports to Taiwan were up 4% from last year at 5,145 mt.  Higher exports to the ASEAN region were driven by increases to the Philippines (1,227 mt, +13%) and Indonesia (978 mt, +17%), while exports were lower to Vietnam (638 mt, -9%).  Exports to the DR were up 49% at 748 mt and were the fourth highest monthly volume on record.  Exports increased to top Caribbean destinations: the Bahamas (351 mt, +22% and the largest since 2012), Jamaica (321 mt, +38% and the second highest on record), and the Netherlands Antilles (293 mt, +14% and a new record).  In South America, exports were higher to Chile (670 mt, +74%) and Colombia (328 mt, +80%).  Exports to Japan moved seasonally higher from February, but were down 9% from last year at 21,551 mt.  Exports to China/HK continued to lag last year and were down 39% year-over-year at 5,996 mt.  After being down 44% year-over-year in January, and down 52% in February, exports to HK were down 41% from last year at 5,575 mt in March.  Exports to China dropped 2% to 421 mt, the lowest level since last February. Exports to Canada continued to lag year-ago levels in March (6,602 mt, -15%).   

BVM exports were higher to China/HK (+770 mt), Japan (+410 mt), South America (+370 mt), and the Caribbean (+100 mt) in March, while exports were just slightly lower to top destination the Middle East (-20 mt).  Exports were also lower to Mexico (-710 mt) and Africa (-720 mt).  Exports to Egypt (7,227 mt) were up slightly from last year and were the highest since last February.  BVM exports to Mexico have been below year-ago levels so far this year, and in March, exports were down 10% at 6,496 mt, the lowest monthly volume since 2014.  Exports were higher to Japan (4,901 mt, +9%), Hong Kong (2,017 mt), Indonesia (656 mt, +17%), Peru (621 mt, +78%), Chile (306 mt, +155% and the highest since 2017), Jamaica (250 mt, +28%), and Colombia (203 mt, +25%).  Exports were lower to Korea (1,160 mt, -6%), Canada (689 mt, -5%), the Philippines (-17%), and South Africa (326 mt, -69% and the lowest since last January).      

For January – March, total beef and bvm exports were down 10,800 mt from last year.  Exports were higher to Korea (+4,300 mt), the ASEAN (+1,900 mt), Japan (+1,700 mt), the Caribbean + DR (+1,040 mt), Mexico (+550 mt), Central America (+480 mt), and Taiwan (+420 mt).  Exports were lower to China/HK (-12,100 mt), Canada (-3,900 mt), the Middle East (-2,500 mt), South America (-1,220 mt), the EU (-800 mt), and Africa (-480 mt).   

March beef exports accounted for 11.0% of production and 13.6% when adding variety meats, as compared to 11.1% and 13.6% in March 2018.  For January – March, beef exports accounted for 10.2% of production and 12.9% when adding variety meats, down from 10.7% and 13.2% last year. 

March beef export value per head of fed slaughter averaged $335.81/head, up $2.92/head or +1% from $332.89/head for March 2018.  For January – March, beef export value per head averaged $309.32/head, down $6.35/head or -2% from $315.67/head last year.  

SOURCE: USMEF