Bovine Animals; Live Price in the United States - 2023

Bovine Animals; Live Price in the United States (CIF) - 2023

The average bovine animals; live import price stood at $1,275 per unit in October 2023, shrinking by -9.9% against the previous month. In general, the import price, however, saw modest growth. The growth pace was the most rapid in March 2023 an increase of 7.9% m-o-m. The import price peaked at $1,416 per unit in September 2023, and then dropped in the following month.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was Canada ($1,757 per unit), while the price for Mexico totaled $970 per unit.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by Mexico (+2.1%).

Bovine Animals; Live Price in the United States (FOB) - 2023

In October 2023, the average bovine animals; live export price amounted to $1,220 per unit, shrinking by -7.7% against the previous month. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 30% month-to-month. Over the period under review, the average export prices attained the maximum at $1,376 per unit in May 2023; afterwards, it flattened through to October 2023.

Prices varied noticeably by the country of destination: the country with the highest price was Saudi Arabia ($2,400 per unit), while the average price for exports to Canada ($1,083 per unit) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+6.0%), while the prices for the other major destinations experienced mixed trend patterns.

Bovine Animals; Live Imports in the United States

In 2022, purchases abroad of bovine animals; lives decreased by -7.9% to 1.7M units, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 3.7%. As a result, imports reached the peak of 2.1M units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, bovine animals; live imports rose markedly to $1.8B in 2022. In general, imports continue to indicate a mild decrease. Imports peaked at $1.9B in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Import of Bovine Animals; Live in the United States (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Canada	978	887	875	1,157	5.8%
Mexico	883	930	755	636	-10.4%
Others	N/A	N/A	N/A	N/A	0%
Total	1,862	1,817	1,630	1,793	-1.3%

Top Suppliers of Bovine Animals; Live to the United States in 2022:

Mexico (870.7K units)
Canada (790.6K units)

Bovine Animals; Live Exports in the United States

In 2022, shipments abroad of bovine animals; lives decreased by -17% to 426K units for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +11.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +38.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 59%. As a result, the exports attained the peak of 513K units, and then contracted remarkably in the following year.

In value terms, bovine animals; live exports fell remarkably to $457M in 2022. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 83% against the previous year. As a result, the exports attained the peak of $538M, and then contracted rapidly in the following year.