Beef Highlights:

October 2021:

Beef : 93,337 mt, +9%, $860 million, +50% and the second highest value after August
BVM: 22,372 mt, +1%, $97 million, +34% and the third highest value after August and September
Beef + BVM: 115,709 mt, +7.5%, $957 million, +48% and the second highest value after August 

January – October 2021:

Beef: 945,617 mt, +19%, $7.674 billion, +40%
BVM: 249,127 mt, +9%, $859 million, +20%
Beef + BVM: 1.195 mt, +17%, $8.533 billion, +38%

October beef muscle cut exports totaled 93,337 mt, up 7,892 mt from last year, and up 11,622 mt from October 2019.  October exports slowed from the July – September pace but still reached the ninth highest monthly volume on record. October beef export value was up 50% from last year (or up $286 million) and up 51% from 2019 at $860 million, the second highest monthly export value after $942 million in August.  Beef muscle cut exports were higher than last October to China/HK (+5,300 mt), Korea (+3,000 mt), Caribbean + DR (+920 mt), South America (+850 mt), Japan (+840 mt), Central America (+580 mt), EU27 + UK (+410 mt), and the Middle East (+160), while exports were lower than last year to ASEAN (-1,450 mt), Mexico (-1,300 mt), Taiwan (-950 mt), and Canada (-560 mt).  Exports to top destinations in Asia were higher year-over-year: Korea (21,508 mt, +16%), Japan (19,423 mt, +5%), and China/HK (20,325 mt, +36%).  For China only, exports were the fourth highest on record after July – September of this year at 16,066 mt, +146% from last year.  Exports to Hong Kong ( 4,259 mt, -50%) were the highest since March but continued to remain at the lowest level in recent years.  Exports to Mexico (8,252 mt, -14%) were up 11% from September but below last year and down 26% from October 2019.  Exports to Canada (7,212 mt, -7%) were also lower year-over-year and were down 9% from 2019.  Exports to Taiwan (4,924 mt, -16%) slowed to the lowest level since March.  Exports to Indonesia (1,385 mt, -5%) slowed to the lowest level since June but remained strong, while exports to the Philippines (595 mt, -43%) were the lowest since last May, and exports to Vietnam (305 mt, -70%) were the lowest since 2016 apart from the previous month. Exports to Singapore (428 mt, +13%) were the highest since May.  Exports to the Dominican Republic (948 mt, +318%), Costa Rica (501 mt, +99%), and Honduras (254 mt, +202%) were all record large, and exports to Guatemala (790 mt, +2%) were the third highest.  Exports also increased to Panama (247 mt, +343%).  Exports to Chile (905 mt, +20%) were steady with the previous month and were the highest since November 2019, and exports to Colombia (806 mt, +163%) were record large.

October beef variety meat exports totaled 22,372 mt, the lowest since February.  Beef variety meat exports were up 1% from last year but were down 15% or -3,930 mt from 2019.  Beef variety meat exports were higher than last October to the Middle East (+1,110 mt), South America (+710 mt), ASEAN (+460 mt), Mexico (+390 mt), China/HK (+300 mt), and Central America (+200 mt), while exports were lower than last year to Africa (-1,480 mt), Japan (-760 mt), Korea (-480 mt), and Canada (-150 mt).  Exports to Mexico (7,589 mt, +5%) were up from last year but were down 18% from October 2019.  Exports to Japan (4,012 mt, -16%) slowed to the lowest level since January.  Exports to Egypt (3,933 mt, +38%) were higher than last year’s low level but were down 14% from October 2019.  Exports to Indonesia (882 mt, +250%) remained strong.  Combined exports to China/HK were 1,390 mt, up 27% from last year on higher exports to China (750 mt, +143%) but lower exports to Hong Kong (640 mt, -19%).  Exports to Peru (682 mt, +24%) were the lowest since June but continued to maintain momentum and were up 35% from October 2019.   Exports to Colombia (553 mt, +141%) were the second highest on record, and exports to Chile (218 mt, +319%) were the highest since June.  Apart from 533 mt in August, October exports to South Africa (621 mt, -65%) were the lowest since January 2020, but exports to Gabon (373 mt, +99%) were the highest since March 2020.  Exports were lower year-over-year to Canada (539 mt, -22%) and Korea (426 mt, -53%).  Exports to Jamaica (176 mt, -46%) were the lowest since April.

January – October beef and variety meat exports totaled 1.195 million mt, up 17% or +175,000 mt from last year (with value up 40% or +$2.3 billion from last year to $8.5 billion).  Year to date exports were higher year-over-year in volume to China/HK (+105,800 mt), Korea (+26,200 mt), Mexico (+20,700 mt), Japan (+12,700 mt), ASEAN (+7,050 mt), Central America (+6,400 mt), South America (+5,800 mt), Caribbean + DR (+4,100 mt), and the Middle East (+3,900 mt), while exports were lower year-over-year to Africa (-7,600 mt), Canada (-6,900 mt), Taiwan (-2,200 mt), EU27 + UK (-500 mt), and the surrounding Russia region (-10 mt).

October beef exports accounted for 12.4% of production and 14.3% when adding variety meats, as compared to 10.8% and 12.7% in October 2020.  January – October 2021 beef exports accounted for 12.8% of production and 15.0% when adding variety meats, compared to 11.0% and 13.2% for January – October 2020. 

October beef export value per head of fed slaughter averaged $439.46/head, up 55% or +$155.40/head from $284.06/head in October 2020.  January – October 2021 beef export value per head of fed slaughter averaged $394.15/head, up 34% or +$100.15/head from $294/head for January – October 2020.

Source: USMEF