October was another strong month for U.S. red meat exports as beef export value continued to soar, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Beef exports reached 115,709 metric tons (mt) in October, up 7.5 percent from a year ago, while export value climbed 48 percent to $956.9 million—the second-highest total on record, behind August 2021. Through the first 10 months of the year, beef exports totaled 1.19 million mt, up 17 percent from a year ago. Export value increased 38 percent to $8.53 billion, surpassing the 2018 record ($8.33 billion) with two months to spare.
“USMEF has always prioritized market diversification, and this is more critical than ever now that the red meat industry faces unprecedented transportation challenges and rising input costs,” said President and CEO Dan Halstrom. “Exports will likely reach about $18 billion in 2021, which is a remarkable achievement. While global demand is tremendous and we are cautiously optimistic about further growth in 2022, supply chain pressures are not easy to overcome and are a growing concern for exporters and their international customers.
U.S. beef exports will top $2 billion this year in each of the three key Asian markets: South Korea, Japan and China/Hong Kong. South Korea and Japan are already knocking on the door, with exports through October exceeding $1.9 billion.
October beef exports to South Korea increased 13 percent from a year ago to 21,934 mt, while value soared 57 percent to $212.4 million. Japan remains the leading volume destination for U.S. beef, with October exports up slightly from a year ago to 23,435 mt, while value climbed 35 percent to $198.7 million. Beef exports to China continue to capitalize on the market access gains achieved in the Phase One Economic and Trade Agreement, with October exports up nearly 150 percent from a year ago to 16,815 mt and more than tripling in value to $148.1 million.
Other highlights
Although October exports to Mexico were below last year’s volume at 15,841 mt, value still increased 29 percent to $93.1 million. Through October, shipments to Mexico surpassed last year’s low totals by 14 percent in volume (163,560 mt) and 39 percent in value ($861.1 million). Mexico is the largest volume destination for U.S. beef variety meat, with exports increasing 11 percent to 78,647 mt and posting strong value growth at $211.2 million (up 20 percent).
Beef exports to Taiwan have edged lower in 2021 at 51,948 mt (down 4 percent) but are still on a record value pace at $532 million (up 16 percent). Chilled exports were up 22 percent to 26,921 mt, valued at $351 million (up 37 percent). The U.S. continues to dominate Taiwan’s imports of higher-value chilled beef, capturing more than 80 percent market share.
Led by very strong growth in Guatemala, Honduras, Costa Rica and Panama, beef exports to Central America have already surpassed previous annual records, climbing 60 percent from a year ago to 17,713 mt and surging 90 percent in value ($107.9 million). Exports to top market Guatemala were 6,551 mt through October, up 42 percent from a year ago, valued at $49 million (up 80 percent) and already surpassing the 2019 record. October exports of beef muscle cuts were record large to Costa Rica and Honduras and the third highest on record to Guatemala.
A strong rebound in Chile and excellent growth in Colombia and Peru drove beef exports to South America 29 percent above last year’s pace at 25,885 mt, while value climbed 79 percent to $141.2 million. Colombia’s exports have nearly surpassed the 2019 annual record, and October exports were record large at 1,359 mt.
Beef exports to the Dominican Republic increased 83 percent from a year ago to 6,375 mt, with value more than doubling to $59.6 million (up 110 percent). October exports reached a record 1,046 mt.
Beef export value per head of fed slaughter equated to $439.46 in October, up 55 percent from a year ago. The January-October average was $394.14, up 34 percent. October exports accounted for 14.3 percent of total beef production and 12.4 percent for muscle cuts only, up from 12.7 percent and 10.8 percent, respectively, in October 2020. For January through October, these ratios were 15 percent and 12.8 percent, each up nearly two full percentage points from a year ago.
October lamb exports
Fueled by growth in leading market Mexico, as well as in the Caribbean and Singapore, October exports of U.S. lamb totaled 1,075 mt (up 56 percent from a year ago) and reached $1.95 million in value—also up 56 percent and the highest since January 2020. Through October, lamb exports increased 8 percent to 11,020 mt, valued at $15.9 million (up 15 percent). Muscle cut exports increased 11 percent to 1,124 mt, valued at $6.9 million (up 21 percent). — USMEF
