ANALYSIS: Australia's Aug 2024 Beef Exports Dip from Record Highs; US-Bound Volumes at 9-Year High

Australia's August 2024 beef and veal exports scaled back from record highs to 121,797 metric tonnes (mt), the latest data from the Department of Agriculture, Fisheries, and Forestry (DAFF) revealed.

Volumes shed 6.3% (-8,201 mt) from July’s all time high of 129,998 mt. This decline was primarily driven by reduced exports to major clients such as Japan, China, and Korea, despite continued strength in exports to the tight United States (US) market.

Annually, exports surged by 19.0% (+19,446 mt), driven by increased... 

ANALYSIS: New Zealand's July 2024 Beef Exports Record 19.6% M-O-M Decline; Exports to China Nosedive

New Zealand’s beef exports in July 2024 amounted to 40,046 metric tonnes (mt), falling 19.6% or 9,734 mt compared to the same period last month, data from Stats NZ indicated.

Notable decreases were seen in exports to the United States (US) and China, in line with seasonal production patterns and lower cattle numbers. Year-on-year (y-o-y), exports fell 13.8% or 6,427 mt. Higher exports to the key Japanese, Canadian and Korean markets helped to mitigate further falls... 

USMEF Chair Sees Potential for U.S. Red Meat in Indonesia

USMEF Chair Randy Spronk joined a team of representatives from the Indiana Soybean Alliance (ISA) to meet with prospective buyers and study market opportunities for U.S. soybeans and red meat in Indonesia. USMEF member ISA, which has developed strong trade relationships providing soy protein in Indonesia, coordinated with USMEF staff on the day-long event.

USMEF ASEAN Director Sabrina Yin and Indonesia Representative Arrofi Satrio Alam set up a meet-and-greet for the ISA group with Indonesian meat importers and presented a...

Growth Expected for Brazil's Poultry and Swine Exports in H2 2024 - SIAVS

Eduardo Giannetti, a Brazilian economist, opened Brazil’s largest animal protein event, SIAVS, which took place last week from 6 to 8 August in Sao Paulo. In his address, Giannetti stated that Brazil’s economic outlook for 2024 has been revised upwards, with growth now forecast between 2-3%, an increase from the initial estimate of 1.5%. This revision is largely attributed to the strong recovery in Rio Grande do Sul, which has exceeded expectations despite challenges including its worst recorded flood and a...

ANALYSIS: Brazil Sets New Record High for Beef Exports in July 2024 

The Brazilian beef exports has achieved a new monthly record high in July after totaling 237,268 MT of fresh beef (frozen and chilled) shipped globally, according to the latest preliminary data from the Brazilian Foreign Trade Secretariat. This figure marks a notable 47.56% increase compared to the same period last year’s 160,795 MT and surpasses the previous record of 211,976 MT reached in May 2024 by 11.93%.

China remains the top destination for the Brazilian beef, with a significant increase in import volume last month... 

ANALYSIS: Exchange Rate Dynamics in Mexico’s Beef Industry

The exchange rate has been one of the main topics of conversation throughout 2024 in Mexico's beef industry, due to its significant impact on imports and exports. In both directions, it serves as an incentive to achieve higher returns from the purchase or sale of materials. 

Over the past 10 years, this influence has been particularly evident; as the peso strengthens against the dollar, exports tend to decrease, and vice versa. However, 2024 has presented a significant challenge. The volatility of the exchange rate, driven by both international and local factors...

ANALYSIS: Chicken Export Volumes in June

Total chicken exports from the U.S. for the month of June were mostly unchanged with only a miniscule 0.3% increase. This is in comparison to the 5-year average month-over-month (MoM) decrease for this period of -5.2%. Much of this may be attributed to improved economies for several countries compared to the past 5 years, as well as changes to HPAI trade restrictions.

The top five export destinations for the U.S. in June were Mexico, Cuba, Canada, Taiwan, and the Philippines. In the past five years, Mexico has... 

Beef Export Value Climbs in June; Pork Trends Lower in June but Posts Strong First Half

June exports of U.S. beef reached the highest value in nearly two years, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While June pork exports were lower year-over-year, shipments through the first half of the year remained ahead of the record value pace of 2023.

Beef exports totaled 110,155 metric tons (mt) in June, down 4% from a year ago but the second largest of 2024. Export value reached...

New Partnership Launched to Broaden Availability of U.S. Pork in Chile

Industry efforts to grow the presence of U.S. pork in Chile took a step forward this summer with the launch of a partnership between U.S. pork producer Wholestone Prestage and U.S. supplier Andes Global. USMEF hosted a launch event in Santiago to announce the partnership and introduce new U.S. pork cuts to retailers and distributor clients of Andes Global.

In preparation for the launch, USMEF worked with Andes Global to identify U.S. pork cuts with demand potential in Chile. Seven cuts were selected and then shipped to... 

ANALYSIS: New Zealand's Beef Exports in 1H 2024, Balancing China's Decline and US’s Growth

In 1H 2024, New Zealand’s beef exports totalled 287,509 metric tonnes (mt), posting a modest 1.5% gain or 4,182 mt compared to the same period last year, data from Stats NZ indicated. 

Most of this growth were led largely by increased allocations to the United States (US), Canada and Japan, while sharp declines were noted to the Chinese market. The undersupplied US market has been a solid destination for New Zealand’s beef as China demand’s falters, taking up the lion’s share of the country’s exporting capacity. 

ANALYSIS: Korea’s 1H Beef Imports Dip 3.6% YOY Amid Weak Demand, Market Shake Up Looms Over FTA

Korea imported 248,113 mt of beef in the first half of the year, marking a 3.6% (9,182 mt) decline compared to the same period last year, the latest Korea Customs Service data showed.

The country sourced most of its beef from Australia (46.3% market share), the United States (US) (46.3% market share), with New Zealand (3.9% market share) and Canada (3.0% market share) making up the rest.

In January to June 2024, imports from Australia surged 13.9% year-on...

Brazil Stops All Exports of Poultry Meat to China

According to an official Ministry of Agriculture and Livestock (MAPA) document released today (19 July) Brazil has taken a precautionary measure to temporarily suspend the issuance of international sanitary certificates for poultry meat exports to the People's Republic of China. Sanitary certificates requested from 17 July will not be issued until further notice.

This is an updated measure from a previous declaration from MAPA banning poultry meat and meat products originating solely from the State of Rio Grande Do Sul.

Meanwhile, MAPA also declared today (19 July) an animal health...

ANALYSIS: May Turkey Export Volume Reveals Generally Conservative Changes from April

May’s turkey export data showed that volume comparisons with April were mostly conservative compared with the five-year average changes. The total amount of turkey sold to foreign buyers decreased by approximately 1%, compared to a five-year average increase of 5% for this period. Moving from April to May, the top three export buyers of U.S. turkey remained as Mexico, Canada, and Jamaica absorbing 31.76 million pounds, 1.10 million pounds, and 0.77 million pounds, respectively.

Mexico was the primary driver of the overall decrease in turkey...

ANALYSIS: 1H 2024 in Review, Australia’s Beef Industry Navigates Surge in US Exports 

For a relatively small, cattle producing country, Australian beef is heavily traded. In fact, it's on the podium for one of the world's most traded this year. Australia's beef industry in the first half of 2024 has navigated a dynamic landscape reshaped by global market shifts and regional challenges. This period has been marked by significant export expansions to the world’s largest beef market, the US. Despite facing challenges in Asian markets due to evolving consumer demand dynamics, Australia continued to position...

ANAlYSIS: Brazilian Beef Exports Reach Record Highs in H1 2024 Amid Currency Depreciation

Brazilian beef exports reached unprecedented volume in the first half of 2024, totaling 1,139,166 metric tons (MT), a substantial 29.1% increase from the 882,197 MT exported during the same period last year. Just in June, export figures hit 192,567 MT, reflecting a 9.2% decrease from May's 211,976 MT and nearly similar to the same period last year’s 192,688 MT, reflecting only a 0.1% drop.

China remains the top destination for Brazilian beef, absorbing nearly half of the total volume shipped in H1 2024...

ANALYSIS: Australia's 1H 2024 Beef Exports Grew 25.7% Y-o-Y, June Volumes Highest Since 2019

Australia’s beef and veal exports surged to 601,408 mt in the first half of 2024, data from the Department of Agriculture, Fisheries, and Forestry (DAFF) indicated. This marked a robust 25.7% increase compared to the same period last year.

Year-to-date (YTD) volumes grew by 123,030 mt buoyed by high Australian production levels. This growth underscores the timely outcome of herd rebuilding efforts initiated since 2021.

This export increase has primarily been fuelled by a supply shortage in the US caused by ongoing...

May Beef Export Value Highest in 11 Months; Pork Exports Below Year-Ago

The value of U.S. beef exports topped $900 million in May, the highest since June 2023, according to data released by USDA and compiled by USMEF. Pork exports posted another solid performance in May, but were below last year in both volume and value.

May beef exports totaled 110,133 metric tons (mt), down 5% from a year ago but the second largest of 2024. Beef export value reached $902.4 million in May, 3% above last year and the highest in 11 months. For January through...

ANALYSIS: New Zealand’s Beef Sector Intensifies US Market Push, May 2024’s Exports Surge 26.0% M-O-M

The New Zealand beef industry is increasingly targeting the lucrative US market to capitalize on the high demand resulting from supply shortages. New Zealand’s exports in May 2024 were recorded at 57,202 mt, the highest in-month level since the 2015 drought year of 57,538 mt, data from Stats NZ indicated.

On a monthly basis, exports jumped 26.0% or by 11,796 mt. Year-on-year, the country’s beef exports grew 4.9% or 2,659 mt...

Meat Institute Opposes Section 301 Tariffs; Calls for Comprehensive Trade Agreements

In comments submitted to the U.S. Trade Representative (USTR) opposing the proposed modifications to the Section 301 actions, the Meat Institute called for comprehensive trade agreements as a long-term strategy to level the playing field for meat and poultry companies and to hold China accountable for its actions.

“The Section 301 tariffs and resulting retaliatory measures imposed by China have caused undue harm to U.S. agricultural exports, including meat exports. U.S. trade policy, such as the one proposed in this Section 301 action, should not inflict pain...

China Welcomes US Dairy Firms Expanding in the Country, Vice Minister says

China welcomes dairy companies from all countries, including the U.S., to expand their business in the Chinese market, Vice Minister of Commerce Wang Shouwen said on Tuesday.

Wang made the remarks when meeting with U.S. Dairy Export Council President Krysta Harden, the ministry said in a statement.

The visit came days after the ministry said China may impose provisional anti-dumping measures on pork imports from the European Union as part of a year-long probe that began on June 17...

ANALYSIS: China’s May 2024 Beef Imports Soar 30% YoY; Consumer Shifts from Pork

China’s May 2024 beef imports rebounded from last month, rising 4.5% m-o-m or 10,048 mt to 234,449 mt, the latest General Administration of Customs People's Republic of China data indicated.

On a yearly basis, volumes soared 30.7% (55,053 mt), primarily driven by a hike in Brazilian imports. Exports to China was previously suspended in 2023 over Bovine Spongiform Encephalopathy (BSE) issues.

Year-to-date (YTD) figures stood at 1.23 million mt, a decline of 23.6% or 234,589 mt compared to the same period last year...

Trade Barriers Removed from Exports of French and Irish Beef to Republic of Korea

French and Irish beef producers will once again be able to export beef to the Republic of Korea, thanks to the European Commission’s efforts to negotiate the removal of local restrictions on EU beef.

In a significant development for the European beef industry, the Republic of Korea has officially opened market access for beef from France and Ireland. This positive result follows consistent representations made by the Commission, including through direct outreach by Commission Executive Vice-President Valdis Dombrovskis...

ANALYSIS: Divergent Pricing Strategies for Mexican Export Short Loins

The Mexican export market has shown contrasting positions regarding the negotiation of short loin prices with the U.S. market. On one hand, some sellers have chosen to negotiate material at lower prices, responding to the historically seasonal decline in short loin prices starting in June and avoiding the risk of holding material that could depreciate even more in the future. On the other hand, there is an opposing stance that directly responds to current market trends. Observing the U.S. boxed beef market, short loin prices have shown a...

ANALYSIS: Turkey Export Volume Expands MoM Stride

By most accounts, April marked the continuation of a general improvement in year-over-year (YoY) turkey export throughput which has been playing out since June of 2023. Total holdings through month’s end touched on about 40.9 million pounds which marks an 18.5% YoY advance. Despite this significant leap, April’s ending tally is still positioned 2.3 million pounds shy of the seasonal 5-year average. As for the comparative monthly data, total outward volume during the month rose by 11.3%. This uptick is a stark contrast to the average 4.9% reduction observed...

April Pork Exports Largest in Nearly Three Years; Beef Exports Also Trend Higher

April exports of U.S. pork reached the highest volume and value since May 2021, according to data released by USDA and compiled by USMEF. It was also a robust month for U.S. beef exports, which were the largest in 10 months and valued at just under $900 million.

Fueled by a record performance in leading market Mexico, pork exports totaled 277,910 metric tons (mt) in April, up 14% from a year ago and the fifth largest on record. Export value climbed 18% to $778.8 million

ANALYSIS: Brazil's Beef Exports Reach Record Highs in May, China's Shares Decline

Brazil has achieved a historical record in beef exports as of May 2024, exporting an unprecedented 211,976 MT of beef. This represents an increase of 1.9% from the previous month and a surged 25.9% when compared to the same period last year. On a YTD basis, the total volume is up by 16.7%.

China remains the leading importer, purchasing 97,876 MT of Brazilian beef in May. However, this figure is slightly lower than April's 101,023 MT ,a 3.1% decrease,  and corresponds to an 11.8% decline compared...

ANALYSIS: Australia's May 2024 Meat Exports Soar to Record Highs

Australia’s May 2024 total meat exports hit a record high, reaching a total of 200,188 mt of meat, including beef/veal, mutton, lamb, and pork, data from the Department of Agriculture, Fisheries, and Forestry (D.A.F.F) indicated. Volumes surpassed record highs last seen in October 2019 at 189,895 mt.

Volumes on a year-on-year basis jumped 22.0% or 36,122 mt. Exports grew 9.6% or 17,441 mt after a 4-month consecutive rise.

The country’s beef/veal exports for May 2024 jumped 24.5%...

ANALYSIS: China’s Beef Imports Hit Lowest in April Since Start of 2024 Amid Sluggish Demand

China’s April 2024 beef imports plummeted to its lowest point since the start of the year, shedding 7.7% month over month or 18,718 mt to 224,402 mt, the latest General Administration of Customs People's Republic of China data indicated.

By virtue of its population, China is the world's second largest beef market after the US, with most of the growth led by affluent urbanites. In recent years, the beef market has been further boosted by the rapid growth of the 'quick commerce' sector, which 

USDA Awards $300 Million to Diversify Export Markets for U.S. Agriculture

Agriculture Secretary Tom Vilsack announced today that the U.S. Department of Agriculture is allocating $300 million to 66 U.S. organizations, under the new Regional Agricultural Promotion Program (RAPP), to build demand for American food and farm exports in high-potential markets around the globe.

Secretary Vilsack launched RAPP in October 2023, authorizing $1.2 billion in Commodity Credit Corporation funding to help U.S. exporters expand their customer base beyond traditional and established markets, focusing on regions such as Africa, Latin America and...

USMEF Statement on Regional Agricultural Promotion Program Funding Allocations

On May 21, U.S. Secretary of Agriculture Tom Vilsack announced funding allocations for the Regional Agricultural Promotion Program (RAPP), which utilizes Commodity Credit Corporation (CCC) funds to diversify export markets for U.S. agricultural products.

U.S. Meat Export Federation (USMEF) President and CEO Dan Halstrom issued the following statement:

USMEF is honored to participate in RAPP and we thank Secretary Vilsack and the staff at USDA for their vision and leadership in implementing this program. The additional investment in foreign market development is very timely...

American, Mexican, and Canadian Cattle Producers Sign Joint Statement Raising Brazilian Beef Concern

Today, leaders of the National Cattlemen’s Beef Association (NCBA), Confederación Nacional de Organizaciones Ganaderas (CNOG), and Canadian Cattle Association (CCA) signed a joint statement to continue advocating for greater oversight of emerging lab-grown proteins, protecting cattle from animal diseases, and promoting the sustainability of the cattle industry. This action builds on the recent statement signing with Cattle Australia and furthers the international partnerships between cattle producers.

“The signing of this joint statement is an important step that unites cattle producers across North America...