January 8, 2024

UK fresh, frozen beef exports up 17% month-on-month in October last year

UK fresh and frozen beef exports rose into October 2023, with volumes up 17% month-on-month, totalling 9,692 tonnes according to HM Revenue and Customs (HMRC) data.

This rise came after relatively steady exports seen through the first three quarters of 2023, said the United Kingdom's Agriculture and Horticulture Development Board (AHDB). However, export volumes throughout the year have remained below those seen in 2022. Year-on-year volumes for October sat 422 tonnes (-4%) below 2022 figures.

When looking at the year to date (January-October), the UK exported 74,396 tonnes of beef to the European Union compared to 88,198 tonnes for the same period in 2022, a decline of 16%. Exports have likely been limited by lower production and strong GB cattle prices in 2023, limiting competitiveness of UK beef.

The monthly rise into October was largely driven by increased demand from countries including Ireland (+17%), France (+29%) and the Netherlands (+25%). Exports to non-EU destinations also rose, such as Hong Kong (+39% since September). Trends suggest this is a seasonal movement, supported by exporter buying in the run up to the Christmas period.

Additionally, exports of beef offal increased year-on-year by 6%, totalling 2,293 tonnes in October. However, for the year-to-date (January-October), offal shipments remained lower than last year (-9%), primarily driven by lower exports to the EU.

UK imports of beef for October 2023 totalled 19,638 tonnes, down 7% year-on-year but up 7% since September. Data showed that GB prime cattle production and slaughter rates in September and October were down year-on-year, with some tightness in the domestic supply chain. This has likely further driven growth in imports to cater for seasonal demand in the tail end of the year. However, volumes remained below previous years rates, likely constrained by reduced UK consumption levels.

Shipments from Ireland rose by 6% from September into October to 14,269 tonnes, taking the year-to-date total to 83,629 tonnes. Historical trends suggests this is a seasonal uplift to meet Christmas demand. However, volumes remained below those seen in October 2022. This came despite the price differential between Irish and GB cattle reaching its widest point during the month (Irish R3 steers averaged at a discount of 91p in the four weeks to October 29). Since October, the price differential has narrowed further to 65p in the week beginning December 18.

GB cattle prices remain firm on the global market.

- AHDB