Beef Highlights:

August 2021:

Beef: 107,257 mt, +20% and record high (+25% from 2019), $942 million, +54% and record high (+55% from 2019)
BVM: 25,320 mt, +23% (-11% from 2019), $99 million, +58% and record high (+20% from 2019)
Beef + BVM: 132,577 mt, +21% and the second highest after May (+15% from 2019), $1.041 billion, +55% and record high (+51% from 2019)

January – August 2021:

Beef: 756,554 mt, +21%, $5.957 billion, +36%
BVM: 198,853 mt, +10%, $665 million, +16%
Beef + BVM: 955,407 mt, +18%, $6.622 billion, +34%

August beef muscle cuts exports reached a new record volume of 107,257 mt, up 18,100 mt from last year and up 21,100 mt from 2019.  Beef muscle cut export value was also record large at $942 million, surpassing the previous high of $850 million in July.  Exports were higher than last August to China/HK (+14,800 mt), Mexico (+3,100 mt), Japan (+2,400 mt), Caribbean + DR (+1,100 mt), South America (+640 mt), Central America (+640 mt), and the Middle East (+190 mt), while exports to the EU were steady.  Exports were lower than last August to Korea (-2,500 mt), Canada (-1,080 mt), Taiwan (-980 mt), and ASEAN (-160 mt).  Exports to Japan (24,241 mt, +11%) were the second highest since April 2020 after the volume of over 25,000 mt in May 2021.  Exports to South Korea (23,922 mt, -9%) were down from last August’s large total but were the fourth highest on record.  Combined exports to China/HK totaled 24,075 mt a new record, driven by a new monthly high to China (19,924 mt, +457% from 3,580 mt last year and up from the previous record of 16,982 mt in July).  Exports to Hong Kong (4,151 mt, -27%) remained lower year-over-year but were the highest since March.  Exports to Mexico (9,040 mt, +52%) were the highest since March and were up sharply from last summer’s low levels but down 18% from 2019.  Exports to Canada (7,999 mt, -12%) were down from last August but were similar to August 2018 and August 2019 levels.  Exports to Taiwan (6,438 mt, -13%) were down from last year’s record level but reached the third highest monthly volume on record.  Beef muscle cuts maintained momentum to Indonesia (2,269 mt, +24% second highest monthly total after July), but exports were lower to the Philippines (820 mt, -5% and lowest since February), Vietnam (384 mt, -54% and sluggish for the second consecutive month) and Singapore (297 mt, -14%).  Exports to Chile (887 mt, +73%) were the highest since November 2019, and exports to Colombia (443 mt, +83%) also picked up and were the fifth highest on record.  In August, beef muscle cut exports reached the second highest monthly volume for the Dominican Republic (803 mt, +240%) and Guatemala (794 mt, +96%), and exports to Costa Rica (359 mt, +116%) reached the fourth highest monthly volume.  Exports were higher year-over-year to the UAE (377 mt, +12%) and Kuwait (236 mt, up significantly from just 2 mt last year).  Exports to the Bahamas (278 mt, +75%) and Netherlands Antilles (264 mt, +54%) were higher year-over-year for the fifth consecutive month in August.

August beef variety meat exports totaled 25,320 mt, the highest since May and up 23% or +4,700 mt from last year (but down 3,400 mt from 2019).    Beef variety meat exports were higher than last year to Japan (+3,100 mt), Mexico (+1,500 mt), ASEAN (+820 mt), China/HK (+630 mt), Caribbean/DR (+430 mt), and Central America (+390 mt).  Exports were lower than last year to the Middle East (-770 mt), Africa (-700 mt), South Korea (-370 mt), and South America (-220 mt).  The top destinations were Mexico (7,868 mt, +23%) and Japan (7,332 mt, +72%), and exports to Japan were the highest since BSE.  Exports to Egypt (2,094 mt, -26%) dropped to the lowest level since 2005, and exports to South Africa (533 mt, -38%) were the lowest since January 2020.  Exports to Indonesia (1,643 mt, +104%) were the second highest since 2011 after 1,777 mt in June.  Exports to Peru (1,037 mt, -1%) were the highest since the large totals in August and September 2020 (and otherwise the highest since 2015).  Combined exports to China/HK totaled 1,530 mt, up 69% with higher exports to both HK (791 mt, +32% and the highest since March) and China (739 mt, +142%).  Exports were lower to Canada (619 mt, -1%) and South Korea (372 mt, -50%).  Exports to Jamaica (478 mt, +104%) were the highest since April 2019, and exports to Trinidad and Tobago (136 mt, +300%) were the highest since last September.  Exports to Panama (335 mt) were up significantly from 14 mt last year and were the fourth highest on record. 

January – August beef and variety meat exports totaled 955,407 mt, up 18% or +147,000 mt from last year (with value up 34% or +$1.67 billion from last year to $6.622 billion).  Exports were higher in volume year-over-year to China/HK (+89,700 mt), Korea (+21,700 mt), Mexico (+19,500 mt), ASEAN (+8,600 mt), Japan (+6,800 mt), Central America (+4,900 mt), South America (+3,600 mt), Caribbean + DR (+2,400 mt), Middle East (+1,700 mt), while exports were lower to Canada (-5,500 mt), Africa (-4,500 mt), EU 27 + UK (-1,100 mt), Taiwan (-900 mt), and the surrounding Russia region (-50 mt).

August beef exports accounted for 14.2% of production and 16.4% when adding variety meats, as compared to 11.9% and 13.7% in August 2020.  January – August 2021 beef exports accounted for 12.8% of production and 15.0% when adding variety meats, compared to 11.1% and 13.3% for January – August 2020.

August beef export value per head of fed slaughter averaged $468.75/head, up 55% or +$165.92/head from $302.82/head in August 2020.  January – August 2021 beef export value per head of fed slaughter averaged $381.91/head, up 28% or +$83.95/head from $297.96/head for January – August 2020.

Source: USMEF