Price for Fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat in the United States - 2023
Contents:
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States (CIF) - 2023
- Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States (FOB) - 2023
- Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States
- Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States (CIF) - 2023
In December 2023, the average import price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat amounted to $11,925 per ton, picking up by 10% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Canada ($16,959 per ton), while the price for Nicaragua ($6,149 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Canada (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States (FOB) - 2023
The average export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat stood at $11,817 per ton in December 2023, falling by -17.8% against the previous month. In general, export price indicated a tangible expansion from December 2022 to December 2023: its price increased at an average monthly rate of +2.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2023 figures, export price for fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -11.0% against August 2023 indices. The pace of growth was the most pronounced in May 2023 when the average export price increased by 39% month-to-month. The export price peaked at $14,867 per ton in July 2023; however, from August 2023 to December 2023, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($22,067 per ton), while the average price for exports to Colombia ($3,401 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States
In 2022, supplies from abroad of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat decreased by -16.3% to 102K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 11% against the previous year.
In value terms, imports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat shrank markedly to $769M in 2022. Overall, total imports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +9.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.6% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of 35%. As a result, imports attained the peak of $983M, and then contracted markedly in the following year.
| Import of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 394 | 448 | 589 | 415 | 1.7% |
| Canada | 168 | 252 | 363 | 325 | 24.6% |
| Nicaragua | 8.3 | 13.9 | 11.9 | 9.8 | 5.7% |
| Others | 13.3 | 13.2 | 18.4 | 19.0 | 12.6% |
| Total | 584 | 726 | 983 | 769 | 9.6% |
Top Suppliers of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat to the United States in 2022:
- Mexico (71.1K tons)
- Canada (28.3K tons)
- Nicaragua (1.6K tons)
Exports of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States
In 2022, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat from the United States reduced dramatically to 25K tons, which is down by -15.9% compared with 2021. Over the period under review, total exports indicated a noticeable increase from 2019 to 2022: its volume increased at an average annual rate of +3.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +35.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 62%. As a result, the exports reached the peak of 30K tons, and then dropped remarkably in the following year.
In value terms, exports of fresh or chilled bone-in cuts (excluding carcasses and half-carcasses) of bovine meat declined slightly to $274M in 2022. Overall, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +8.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.9% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 54%. As a result, the exports reached the peak of $277M, and then dropped slightly in the following year.
| Export of Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 83.2 | 69.2 | 84.0 | 98.7 | 5.9% |
| South Korea | 38.1 | 36.5 | 84.7 | 66.3 | 20.3% |
| Mexico | 28.7 | 23.6 | 47.8 | 41.2 | 12.8% |
| Japan | 10.5 | 11.2 | 13.6 | 17.5 | 18.6% |
| Netherlands | 8.2 | 5.1 | 9.4 | 14.3 | 20.4% |
| Taiwan (Chinese) | 4.9 | 5.4 | 5.0 | 6.2 | 8.2% |
| China | 2.0 | 1.2 | 4.4 | 5.6 | 40.9% |
| Hong Kong SAR | 7.2 | 6.3 | 3.9 | 3.6 | -20.6% |
| United Arab Emirates | 11.9 | 7.4 | 7.0 | 3.1 | -36.1% |
| Others | 22.4 | 14.4 | 17.4 | 17.5 | -7.9% |
| Total | 217 | 180 | 277 | 274 | 8.1% |
Top Export Markets for Fresh or Chilled Bone-in Cuts (Excluding Carcasses and Half-Carcasses) of Bovine Meat from the United States in 2022:
- Canada (9.6K tons)
- South Korea (5.1K tons)
- Mexico (4.2K tons)
- Netherlands (1.9K tons)
- Japan (1.2K tons)
- Taiwan (Chinese) (0.6K tons)
- China (0.4K tons)
- Hong Kong SAR (0.3K tons)
- United Arab Emirates (0.2K tons)
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