Beef Highlights:

February 2021:
Beef : 82,530 mt, -3, $598 million -0.1%
BVM: 20,963 mt, -23%, $72 million, -13%
Beef + BVM: 103,493 mt, -8%, $670 million, -2%

January – February 2021:
Beef: 163,928 mt, -1%, $1.182 billion, +0%
BVM: 44,612 mt, -16%, $140.3 million, -15%
Beef + BVM: 208,540 mt, -5%, $1.323 billion, -2%

February beef muscle cut exports totaled 82,530 mt, down 2.8% or -2,400 mt from last year but up 1.4% from January.  Compared to last year, exports were higher to China/HK (+8,000 mt) and Korea (+1,000 mt) and were also slightly higher to Central America (+30 mt), while exports were lower than last year to Japan (-2,800 mt), Mexico (-2,500 mt), Canada (-1,700 mt), ASEAN (-1,100 mt), Taiwan (-1,000 mt), the Caribbean + DR (-860 mt), EU 27 + UK (-850 mt), South America (-260 mt), and the Middle East (-160 mt).  February beef muscle cut exports to Korea (23,016 mt, +4%) were the highest since last August and were the sixth highest monthly volume since BSE.  Beef exports to Japan (20,600 mt, -12%) were up 12% from January but were lower year-over-year.  Exports to both Mexico (8,629 mt, -22%) and Canada (6,410 mt, -21%) slowed from January.  Combined exports to China/HK totaled 12,397 mt, up 181% from last year.  Exports to China (7,995 mt, +1,403 mt) were the second highest since the market re-opened in February after last December, and in February, China was the fourth largest destination for U.S. muscle cut exports.   Exports to Hong Kong (4,402 mt, +13%) were up 13% from last year and from January but were otherwise the lowest since last March.  Exports to Taiwan (3,805 mt, -21%) remained slower again in February (with 3,833 mt in January, down 27% year-over-year).  Exports to the ASEAN were slowed to all top destinations: the Philippines (760 mt, -33%), Vietnam (716 mt, -28%), Indonesia (486 mt, -43%), and Singapore (154 mt, -44%), but exports were higher year-over-year to Thailand (152 mt, +22%).  Exports were higher year-over-year to Guatemala (624 mt, +67%) and Costa Rica (297 mt, +3%), but exports remained lower to the Dominican Republic (349 mt, -38%).  Exports were down slightly year-over-year to Chile (610 mt, -5%), and exports adjusted lower to Colombia (186 mt, -40%) following a record month in January (at 483 mt).  Exports to the UAE (580 mt, -3%) were the highest since last February, and exports to Kuwait (375 mt, +13%) maintained the momentum that picked up late last year.

February beef variety meat exports totaled 20,963 mt, down 23% or -6,100 mt from last year and the lowest since last August, as the tight labor supply continued to limit the production and availability for export of some variety meat items.  Compared to last year, beef variety meat exports were higher to China/HK (+760 mt), Japan (+620 mt), ASEAN (+140 mt), and Central America (+120 mt), while exports were lower to the Middle East (-3,000 mt), Mexico (-1,700 mt), Africa (-1,000 mt), Korea (-980 mt), Canada (-470 mt), Caribbean (-410 mt), and South America (-170 mt).  After rebounding last November and December, beef variety meat exports slowed to Mexico (7,060 mt, -19%) fo the second month in February.  February exports to Japan (4,279 mt, +17%) were up 17% from the previous year and from January.  Exports to Egypt (2,814 mt, -51%) were the lowest since last May, and exports were also lower to the other main liver markets: South Africa (1,060 mt, -16%) Peru (330 mt, -48% and the lowest since 2019).  Exports to Indonesia (1,116 mt, +60%) were over 1,000 mt for the second consecutive month and were the highest since last March, but exports were lower to the Philippines (397 mt, -26%).  Exports to China/HK totaled 1,261 mt, up 151% from last year.  Exports to China (649 mt, up from 0 mt last year) were the second highest since the market reopened after last December, and exports to Hong Kong (612 mt, +22%) were also higher year-over-year.  Exports slowed to Canada (667 mt, -41%) and Korea (521 mt, -65%).  Exports to Colombia (348 mt, +295%) were the highest since 2019, but exports were lower to Chile (137 mt, -35%).  Exports were also lower to Jamaica (185 mt, -52%). 

January – February beef and beef variety meat exports totaled 208,540 mt, down 5% or -10,900 mt from last year.  Exports were higher to China/HK (+12,900 mt), Korea (+3,600 mt), and Central America (+240 mt), while exports were lower to Mexico (-8,100 mt), Japan (-5,400 mt), Middle East (-2,800 mt), Taiwan (-2,400 mt), Caribbean + DR (-2,000 mt), ASEAN (-1,900 mt), Canada (-1,600 mt), EU 27 + UK (-1,400 mt), Africa (-1,200 mt), and South America (-430 mt). 

February beef exports accounted for 12.3% of production and 14.4% when adding variety meats, as compared to 12.4% and 15.3% in February 2020.  January – February 2021 beef exports accounted for 11.6% of production and 13.8% when adding variety meats, compared to 11.5% and 14.1% for January – February 2020. 

February beef export value per head of fed slaughter averaged $345.37/head, up 1% or +$2.34/head from $343.03/head in February 2020.  January – February beef export value per head of fed slaughter averaged $327.92/head, up 2% or +$6.06/head from $321.86/head for January – February 2020. 

Source: USMEF