Beef and cattle trade boosting American cattle markets

Published 2022년 1월 13일

Tridge summary

Beef exports have seen a record growth in November, with an 18.5% increase year over year for the first 11 months of 2022. The China/Hong Kong market is the fastest-growing beef export market, up 110% year to date. However, exports to Mexico and Canada have seen a decrease. Total beef imports were 27.5% higher year over year in November. Canada is the largest source of beef imports, followed by Mexico and New Zealand. Live cattle imports from Canada and Mexico were down for the first 11 months of 2021, but cattle exports were higher to Canada and Mexico. The value of beef byproducts has significantly increased in 2021. The beef and cattle trade is projected to be generally supportive in 2022, with a slight pullback in exports expected.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Beef exports continued on a record pace in the latest data for November. Total beef exports were up 8.1% in November and are up 18.5% year over year for the first 11 months of the year. The China/Hong Kong (HK) market remains the fastest growing beef export market, up 110% for the year to date. The China/HK market is the third-largest market, accounting for a 19.3% share of total beef exports through November, behind No. 1 Japan (24.2% share) and No. 2 South Korea at 23% of year-to-date exports. Beef exports to Mexico are up 7% so far in 2021 but were down 36.7% year over year in the month of November. Exports to Canada were up 20.9% year over year in November but are down 4.7% for the January-November period. Total beef imports were 27.5% higher year over year in November but are down 1.8% for the year to date for the January-November period. Beef imports from Canada were up 14.4% for the first 11 months of the year. Canada is currently the largest source of beef imports, ...

Source: Progressivecattle