Beef Highlights:

January 2023:

Beef: 80,231 mt, -16.5%; $626 million, -33%
BVM: 20,711 mt, -10%; $76 million, -18%
Beef + BVM: 100,942 mt, -15%; $702 million, -31.5%

January beef muscle cut exports totaled 80,231 mt, down 16.5% or -15,858 mt from last year. Compared to last year, beef muscle cut exports were higher to Mexico (+2,090 mt), Japan (+1,100 mt), and Caribbean + DR (+260 mt). Exports were lower to Korea (-10,600 mt), China/HK (-4,140 mt), Taiwan (-2,330 mt), Middle East (-840 mt), the ASEAN (-430 mt), South America (-390 mt), EU27 + UK (-290 mt), Canada (-190 mt), and Central America (-80 mt). Exports to Japan (19,670 mt, +6%) were higher year-over-year. Exports slowed to the lowest level since December 2020 for Korea (18,200 mt, -37%) and exports to Canada (7,100 mt, -2.5%) were to the lowest level since February 2021. After a strong 4^th quarter, exports to Mexico (8,570 mt, +32%) stayed strong in January. Exports slowed to the second lowest level since February 2021 for China/HK (13,720 mt, -23%), with exports to China (12,230 mt, and the second lowest level since February 2021) down 24% and exports to Hong Kong (1,490 mt and the lowest level since March 2022) down 12%. Exports to the Caribbean + DR (1,870 mt, +16%) were higher year-over-year led by the Dominican Republic (690 mt, +28%), the Bahamas (260 mt, +2% and the highest level since May 2022), the Netherlands Antilles (240 mt, +37%) and Trinidad and Tobago (150 mt, +134% and the highest level since September 2022). Exports to Taiwan (4,560 mt, -34%) were lower year-over-year, but were the highest since August. Exports to the Philippines (860 mt, +77%) were higher year-over-year and were the highest January level since January 2020, but were offset by exports to Indonesia (50 mt, -93%) that were the lowest level since February 2017 when there were no reported exports and by exports to Vietnam (590 mt, -13%) that were the lowest level since May 2022 leading to exports to the ASEAN (1,980 mt, -18%) being the lowest level since June 2020. Exports to Costa Rica (390 mt, +1%) and Honduras (220 mt, +77% and the highest level since March 2022, along with November 2022) were higher year-over-year, but exports to Guatemala (610 mt, -20%) and Panama (120 mt -38% and the lowest level since July 2022) were lower year-over-year, bringing Central America (1,460 mt, -5%) below year-ago levels. Exports to EU27 + UK (1,360 mt, -17.5%), South America (900 mt, -30%) and the Middle East (650 mt, -56% and the lowest level since July 2021) were lower year-over-year.

January beef variety meat exports totaled 20,711 mt, -10% or -2,266 mt from last year. Exports were higher than last year to Africa (+1,920 mt), Mexico (+860 mt), South America (+380 mt), Caribbean + DR (+230 mt), Canada (+210 mt), and Central America (+70 mt). Exports were lower to the Middle East (-3,040 mt), Japan (-1,570 mt), China/HK (-660 mt), ASEAN (-570 mt), and Korea (-80 mt). Exports to South Africa (2,120 mt, up from 190 mt) were the fourth highest level on record and exports to Cote d’Ivoire (320 mt, up from 50 mt) were also higher year-over-year, bringing Africa (2,570 mt, +295%) above year-ago levels and to the highest level since April 2021. Exports to Egypt (2,240 mt, -58%) were the lowest level since August 2021. Exports to Mexico (8,910 mt, +11%) were the second highest level (after December 2022) since December 2021 and exports to Canada (570 mt, +60%) were also higher year-over-year. Exports to Japan (2,790 mt, -36%) were the lowest level since June 2021, exports to Korea were the lowest level since May 2022, and exports to the ASEAN (240 mt, -71%) were the lowest level since December 2015. Exports to South America (620 mt, +156%) were higher than a year ago, driven by Colombia (240 mt, +140%), Peru (220 mt, +343%), and Chile (120 mt, +34%). Exports to Costa Rica (90 mt, up from 0 mt) were the highest level since August 2021, exports were also higher than a year ago to Guatemala (80 mt, +67%) and Nicaragua (40 mt, up from 0 mt) and exports to Honduras (90 mt, -43%) were lower year-over-year, but were the highest level since June 2022, bringing Central America (330 mt, +28%) to the highest level since March 2022. Exports to the Caribbean + DR (470 mt, +95%) were higher year-over-year driven by exports to the Dominican Republic (190 mt, up from 0 mt) that reached the eighth highest level on record and also by higher exports to Jamaica (140 mt, +9%) than a year ago. Exports to China (1,080 mt, -13%) were the lowest level since November 2021 and exports to Hong Kong (180 mt, -73%) were the lowest level since November 2013.

January beef muscle cut + beef variety meat exports totaled 100,942 mt, down 15% or -18,124 mt from last year. Exports were higher to Mexico (+2,940 mt), Africa (+1,940 mt), Caribbean + DR (+480 mt), and Canada (+30 mt). Exports were lower to Korea (-10,680 mt), China/HK (-4,790 mt), Middle East (-3,870 mt), Taiwan (-2,340 mt), ASEAN (-1,010 mt), Japan (-480 mt), EU27 + UK (-290 mt), Central America (-10 mt), and South America (-10 mt).

January 2023 beef exports accounted for 10.8% of production and 12.7% when adding variety meats, compared to 13.3% and 15.4% in January 2022.

January beef export value per head of fed slaughter averaged $331.27/head, down 34% or -$172.39/head from $503.66/head in January 2022. 

Source: USMEF