Beef Highlights:

July 2021:

Beef : 98,191 mt, +17.5% and the third highest after May and March 2021 (+9.5% from 2019), $850 million, +49% and record high (and +33% from 2019)
BVM: 24,552 mt, +3% (-13% from 2019), $89 million, +16% and the fifth highest monthly value (+9% from 2019)
Beef + BVM: 122,743 mt, +14% and the third highest since BSE after May and March 2021(+4% from 2019), $939 million, +45% and record high (+18% from 2019)

January – July 2021:

Beef: 649,297 mt, +21%, $5.015 billion, +33%
BVM: 173,533 mt, +8%, $565 million, +11%
Beef + BVM: 822,830 mt, +18%, $5.581 billion, +30%

July beef muscle cuts totaled 98,191 mt, up 14,650 mt from last year and up 8,500 mt from July 2019, and the third highest monthly volume after 105,093 mt in May 2021 and 98,986 mt in March 2021. Beef muscle cut value reached a new record of $850 million in July, surpassing the previous record of $813 million in May by 5%.  Exports were higher than last July to China/HK (+11,800 mt), Mexico (2,150 mt), ASEAN (+1,700 mt), the Caribbean + DR (+750 mt), Central America (+560 mt), the Middle East (+350 mt), and South America (+250 mt), while exports were lower to Japan (-960 mt), Canada (-920 mt), Korea (-660 mt), Taiwan (-200 mt), and the EU 27 + UK (-140 mt).  Exports to Korea (22,925 mt, -3%) and Japan (22,819 mt, -4%) were higher than June but were below year-ago and were both down 5% from 2019 in July.  Combined exports to China/HK were record large at 19,897 mt, up 144% from last year.  Exports to China (16,982 mt, +685%) were record large, and exports to Hong Kong (2,915 mt, -51%) rebounded somewhat from June but were otherwise the lowest since 2012.  Exports to Mexico (8,148 mt, +36%) remained above last year’s low levels but were down 35% from July 2019, and exports to Canada (7,962 mt, -10%) were lower.  Exports to Taiwan (5,792 mt, -3%) were the highest since last October for the second consecutive month and were up 6% from July 2019.  Exports to Indonesia (2,410 mt, +209%) set a new record for the second consecutive month.  Exports to the Philippines (959 mt, +14%) slowed to the lowest level since February but were above year-ago and 2019 levels, and exports were also higher to Singapore (406 mt, +190%).  Exports to Vietnam (308 mt, -55%) dropped to the lowest level since 2016.  Exports to Chile (692 mt, +5%) were higher than last year but were down 38% from 2019, while exports to Colombia (395 mt, +141%) were the highest since April and were up 40% from 2019 in July.  Exports to Guatemala (540 mt, +57%) are on a record pace and were up significantly from last year and up 53% from 2019 in July, and July exports to Panama (282 mt, +122%) were the fifth highest on record.  Exports to the Dominican Republic (420 mt, +119%) have rebounded from last year’s low levels, but July exports were still down 31% from 2019.  For the Caribbean, July beef muscle cut exports to the Bahamas (284 mt, +112%) were the highest since March 2020,  Jamaica (255 mt, +750%) the highest since 2019, and Netherlands Antilles (245 mt, +58%) the highest since February 2020.  Exports to the UAE (261 mt, +166%) were up from last year’s low levels but were down 23% from 2019.

July beef variety meat exports totaled 24,552 mt, up 3% from June but otherwise the lowest since February, up 3% or +800 mt from last year, but down 13% or -3,500 mt from 2019.  July beef variety meat exports were higher than last year to Japan (+970 mt), ASEAN (+560 mt), China/HK (+300 mt), South America (+260 mt), Caribbean + DR (+140 mt), Mexico (+100 mt), while exports were lower to the Middle East (-610 mt), Korea (-360 mt), Canada (-270 mt), Africa (-190 mt), and Central America (-150 mt).  Beef variety meat exports slowed to Mexico (7,420 mt, +1%) in July and were the lowest since February, up 1% from last year but down 9% from 2019.  July beef variety meat exports to Japan (5,730 mt, +20%) reached the fifth highest monthly volume since BSE and were the highest since August 2019, up 20% from last year but down 19% from July 2019 (when exports were 7,100 mt – the highest since BSE).  Exports to Egypt (4,218 mt, -12%) were up 12% from June (but were down from 5,199 mt in May) and were down 12% from last year but up 2% from July 2019.  Combined exports to China/HK totaled 1,694 mt, up 22% from last year.  Exports to China (1,039 mt, +456%) were the second highest since the market reopened after May, while exports were lower year-over-year to Hong Kong (655 mt, -46%) but did rebound 30% from June.  Exports were higher than last year to Indonesia (1,095 mt, +100%) and the Philippines (308 mt, +22%), but exports were down 28% from 2019 for Indonesia and down 35% for the Philippines.  July exports to South Africa (1,087 mt, +46%) were above last year’s low level but were below July exports for 2017 – 2019.  July exports to Cote d’Ivoire (244 mt, -3%) were the second highest so far this year.  Exports to Peru (907 mt, +145%) were the second highest so far this year, up sharply from last year and up 24% from 2019.  Exports to Korea (444 mt, -45%) were down 51% from 2019, and exports to Canada (425 mt, -39%) were down 26% from 2019.  Exports to Jamaica (237 mt, +14%) slowed from over 300 mt in May and June and were down 38% from 2019. 

January – July beef and variety meat exports totaled 822,830 mt, up 18% or +124,000 mt from last year (with value up 30.5% or +$1.3 billion from last year to $5.581 billion).  Exports were higher to China/HK (+74,300 mt), Korea (+24,600 mt), Mexico (+15,000 mt), ASEAN (+8,000 mt), Central America (+3,800 mt), South America (+3,200 mt), Middle East (+2,300 mt), Japan (+1,400 mt), Caribbean + DR (+830 my), and Taiwan (+90 mt), while exports were lower to Canada (-4,400 mt), Africa (-3,850 mt), EU 27 + UK (-1,100 mt), and the surrounding Russia region (-50 mt). 

July beef exports accounted for 13.2% of production and 15.4% when adding variety meats, as compared to 10.8% and 12.9% in July 2020.  January – July 2021 beef exports accounted for 12.6% of production and 14.8% when adding variety meats, compared to 10.9% and 13.2% for January – July 2020. 

July beef export value per head of fed slaughter averaged $425.68/head, up 52% or +$145.31/head from $280.37/head in July 2020.  January – July 2021 beef export value per head of fed slaughter averaged $369.15/head, up 24% or +$71.94/head from $297.21/head for January – July 2020. 

Source: USMEF