USMEF: Beef exports in August trend higher to Mexico, Taiwan, Middle East, but lower overall
"Beef demand in our major Asian markets seemed to lose a bit of momentum in August, but exports held up well to Mexico, Taiwan and the Middle East", said USMEF President and CEO Dan Halstrom. "The headwinds in Asia remain formidable, but we are encouraged by the region’s ongoing tourism rebound. The late-September removal of Colombia’s restrictions on U.S. beef is also a positive development. While this came too late to impact the August results, it will help bolster fourth-quarter demand in Latin America".
Mexico’s demand for U.S. beef remained robust in August, with exports increasing 2% from a year ago in both volume (19,037 mt) and value ($113.2 million). For January through August, shipments to Mexico increased 13% to 153,591 mt, while value climbed 16% to $898.5 million. This included a strong increase in beef variety meat exports, which were up 15% to 81,816 mt, valued at $221.4 million (up 9%). Mexico is the largest volume destination for U.S. beef variety meat.
Beef exports to Taiwan continued to trend higher in August, with shipments increasing 4% from a year ago in both volume (5,817 mt) and value ($67.6 million). After a slow start to the year, January-August exports to Taiwan pulled within 4% of last year’s volume pace at 42,669 mt, while export value climbed 6% above last year to $471.8 million.
Led by larger beef variety meat shipments to Egypt, record beef muscle cut shipments to Qatar and strengthening demand for muscle cuts in the United Arab Emirates, Kuwait and Bahrain, beef exports to the Middle East have rebounded impressively in 2024. August exports increased 40% from a year ago to 4,053 mt, valued at $17.6 million (up 18%). This pushed the January-August results 30% above last year in volume (36,501 mt) and 27% higher in value ($164.2 million).
Other January-August results for U.S. beef exports include:
Strong demand in the Philippines, Singapore and Vietnam pushed August exports to the ASEAN region to 3,374 mt, up 9% from a year ago, while export value climbed 60% to $28.4 million. For January through August, exports were slightly below last year’s volume at 26,463 mt, but achieved an impressive 39% increase in value to $221.7 million.
August beef exports to the Caribbean edged slightly higher than a year ago at 2,463 mt, though export value fell 8% to $23 million. Some of this volume was newfound demand for canned beef products in Cuba, but growth was also driven by record-large shipments to the Dominican Republic, Netherlands Antilles, and Turks and Caicos and rebounding variety meat shipments to Trinidad and Tobago and Jamaica. For January through August, exports to the region were 23% above last year at 22,254 mt, while export value climbed 9% to $187 million.
August beef export volume to Japan slipped modestly compared to last year, falling 2% to 20,585 mt. Export value declined more significantly, down 9% to $158.4 million. For January through August, export volume to Japan was steady with last year at 169,636 mt, while export value was 5% higher at $1.31 billion.
Beef exports to South Korea also trended lower in August, down 13% from a year ago in volume (17,128 mt, the lowest since 2020) and 5% lower in value ($163.1 million). Through August, exports to Korea managed a slight increase in value ($1.43 billion, up 1%) despite a 12% decline in volume (151,065 mt).
August exports to China/Hong Kong declined 10% from a year ago to 17,131 mt, while export value fell 8% to $155.3 million. January-August exports to the region were down 11% from a year ago in volume (139,382 mt) and were 6% lower in value ($1.29 billion). In recent weeks the Chinese government unveiled long-awaited measures aimed at stimulating the nation’s sluggish economy. Some aspects of this package could provide a boost to China’s foodservice sector, which is still struggling to recover from the COVID era.
As noted above, Colombia recently repealed its ban on U.S. beef originating from 14 states in which H5N1 was detected in dairy cows. These restrictions, which began in April, decimated beef exports to Colombia, which fell to just 73 mt in August, valued at about $600,000. The Colombian market had been averaging more than $3 million in monthly shipments before restrictions were imposed, and USMEF is actively working to rebuild demand now that full access has been restored.
Beef export value equated to $391.19 per head of fed slaughter in August, down 1% from a year ago. The January-August average was $414.88 per head, up 5%. Exports accounted for 13% of total August beef production and 10.7% for muscle cuts only – each down about one-half percentage point from a year ago. The January-August ratios were 13.9% of total production and 11.6% for muscle cuts, down from 14.3% and 12%, respectively, during the same period in 2023.
Production has totalled 218,000 tonnes so far this year, with October’s volumes at 25,000 t...
USMEF recently held an educational seminar in Miami for Cuban buyers and U.S. companies intereste...
Exports EU agri-food exports reached €18.6 billion in August 2024, down 10% from July but 1...
