August 10, 2021

US beef exports recover from pandemic disruptions

US beef exports have bounced back from the pandemic disruptions last year.

Total beef exports for the January–June period in 2021 were up 21.5% over the first six months of 2020. This includes a 46.2% year over year increase for the month of June over the low point last year.

Compared to 2019, year to date beef exports were up 12.1% this year. Total beef imports for the first six months of 2021 were down 3.7% year over year and down slightly by 0.8% over the same period in 2019.

Japan remains the largest export market for US beef with a 24.6% share of year-to-date US beef exports. South Korea is closing fast on Japan with a 24.1% share of beef exports for the first six months of 2021. The China/Hong Kong market continues to be the fastest growing beef export market with June exports up 159.3% year over year and beef exports for the January–June period up 167% over 2019 and 2020.

China/Hong Kong is the third largest beef export market with a 17.9% share of total beef exports. So far in 2021, Mexico accounts for 9.5% of exports, Canada for 8.1% and Taiwan for 5.5%.

Canada is the largest source of beef imports accounting for 28.2% of total beef imports for the January–June period. Mexico accounts for 20.4% of year-to-date imports, with New Zealand at a 17.7% share; Australia, an 11.9% share and Brazil, an 8.8% share of total beef imports.   

Total cattle imports so far in 2021 are down 19.1% year over year and down 20.2% compared to 2019.  Total feeder cattle imports from Mexico and Canada of the year are down 18.3% for the first six months compared to last year (down 21.7% compared to 2019). Slaughter cattle imports from Canada are down 21.6% year over year for the year to date and down 15.7% compared to the first six months of 2019.

Total cattle exports to Canada and Mexico are up 111.7% year over year and up 129.1% from 2019.

For the year to date, cattle exports to Canada equal 78.4% of cattle imports from Canada meaning that net imports of cattle from Canada so far in 2021 are 59,340 head. Cattle exports to Mexico are up 385.3% thus far in 2021 (up 143.9% compared to 2019) and represent 4.7% of total cattle imports from Mexico.

- Oklahoma State University