Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United States - 2023
Contents:
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United States (FOB) - 2023
- Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United States (CIF) - 2023
- Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United States
- Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United States
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United States (FOB) - 2023
The average export price for fresh or chilled boneless cuts of bovine meat stood at $10,698 per ton in December 2023, falling by -3.1% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The pace of growth appeared the most rapid in February 2023 an increase of 7% m-o-m. Over the period under review, the average export prices attained the maximum at $11,173 per ton in September 2023; however, from October 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 ($17,402 per ton), while the average price for exports to Mexico ($7,995 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 Canada (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Fresh or Chilled Boneless Cuts of Bovine Meat in the United States (CIF) - 2023
In December 2023, the average import price for fresh or chilled boneless cuts of bovine meat amounted to $8,315 per ton, with a decrease of -2.3% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 6.3% m-o-m. Over the period under review, average import prices hit record highs at $9,101 per ton in July 2023; however, from August 2023 to December 2023, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In December 2023, the countries with the highest prices were Australia ($10,574 per ton) and Mexico ($9,036 per ton), while the price for Canada ($7,446 per ton) and Uruguay ($7,706 per ton) were amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Mexico (+1.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United States
After three years of growth, shipments abroad of fresh or chilled boneless cuts of bovine meat decreased by -10.3% to 399K tons in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 8.6% against the previous year. As a result, the exports reached the peak of 445K tons, and then reduced in the following year.
In value terms, exports of fresh or chilled boneless cuts of bovine meat fell to $4.1B in 2022. The total export value increased at an average annual rate of +7.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 31%. As a result, the exports reached the peak of $4.4B, and then contracted in the following year.
| Export of Fresh or Chilled Boneless Cuts of Bovine Meat in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1,092 | 1,111 | 1,337 | 1,090 | -0.1% |
| South Korea | 509 | 628 | 927 | 890 | 20.5% |
| Mexico | 715 | 538 | 651 | 585 | -6.5% |
| Canada | 380 | 445 | 461 | 477 | 7.9% |
| Taiwan (Chinese) | 277 | 311 | 432 | 379 | 11.0% |
| China | 12.7 | 57.3 | 220 | 256 | 172.2% |
| Netherlands | 100 | 109 | 106 | 166 | 18.4% |
| Others | 214 | 173 | 268 | 256 | 6.2% |
| Total | 3,299 | 3,372 | 4,403 | 4,099 | 7.5% |
Top Export Markets for Fresh or Chilled Boneless Cuts of Bovine Meat from the United States in 2022:
- Japan (123.0K tons)
- Mexico (73.6K tons)
- South Korea (70.0K tons)
- Canada (55.7K tons)
- Taiwan (Chinese) (25.2K tons)
- China (20.3K tons)
- Netherlands (10.5K tons)
Imports of Fresh or Chilled Boneless Cuts of Bovine Meat in the United States
After three years of growth, supplies from abroad of fresh or chilled boneless cuts of bovine meat decreased by -0.2% to 484K tons in 2022. The total import volume increased at an average annual rate of +2.6% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 6.7% against the previous year. As a result, imports attained the peak of 485K tons, leveling off in the following year.
In value terms, imports of fresh or chilled boneless cuts of bovine meat reduced slightly to $3.9B in 2022. The total import value increased at an average annual rate of +11.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 32%. As a result, imports reached the peak of $3.9B, leveling off in the following year.
| Import of Fresh or Chilled Boneless Cuts of Bovine Meat in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 1,366 | 1,345 | 1,871 | 1,924 | 12.1% |
| Mexico | 752 | 806 | 1,078 | 1,109 | 13.8% |
| Australia | 575 | 611 | 613 | 534 | -2.4% |
| Nicaragua | 46.1 | 65.0 | 73.2 | 83.4 | 21.8% |
| Argentina | 1.9 | 22.6 | 58.6 | 65.5 | 225.5% |
| Others | 97.9 | 123 | 229 | 205 | 27.9% |
| Total | 2,840 | 2,973 | 3,923 | 3,921 | 11.4% |
Top Suppliers of Fresh or Chilled Boneless Cuts of Bovine Meat to the United States in 2022:
- Canada (273.0K tons)
- Mexico (141.0K tons)
- Australia (38.4K tons)
- Nicaragua (10.8K tons)
- Argentina (7.5K tons)
361
This report provides an in-depth analysis of the fresh beef cut market in the USA.
2125
This report provides an in-depth analysis of the beef market in the U.S..
761
This report provides an in-depth analysis of the meat and poultry market in the U.S..
946
This report provides an in-depth analysis of the meat market in the U.S..
476
This report provides an in-depth analysis of the beef market in the USA.
469
This report provides an in-depth analysis of the fresh beef carcase market in the U.S..
530
Global Fresh Beef Cut Market Report 2018. This report provides an in-depth analysis of the global fresh beef cut market.
4189
This report provides an in-depth analysis of the global beef market.
2145
This report provides an in-depth analysis of the global meat and poultry market.
2724
This report provides an in-depth analysis of the global meat market.
636
Discover the largest companies in the beef industry in the United States and their success strategies, including vertical integration, diversification, innovation, efficiency, sustainability, and customer-centricity.
545
In June 2022, the beef price per ton stood at $9,099 per ton in June 2022, approximately reflecting the previous month.
693
Despite prices remaining consistent in the first half of 2021, an increase is expected in the immediate term. The projected 2% fall in the American cattle population by 2022 threatens to increase the price of beef by near 5%. Investment into the alternative protein sector has dramatically increased; and the emerging food inflation mitigates income growth from counter-covid support measures, which all may restrict the beef market growth.
761
In January 2022, U.S. meat prices grew tangibly compared to January 2021: beef prices soared by 30%, pork by 11%, turkey gained 18%, and broiler prices skyrocketed by 62%. Prices are set to accelerate due to rising feed costs, spurred by low hay stocks.
465
In September 2022, the meat price amounted to $5,049 per ton (FOB, US), waning by -3.8% against the previous month.
412
In July 2022, the meat price per ton stood at $6,587, growing by 1.8% against the previous month.
424
The increase in demand for organic meat means more slaughterhouses are needed.
1949
The U.S. meat market is expected to grow in the next few years, with poultry and pork leading the way.
446
Explore the top import markets for beef, including China, the United States, South Korea, and more. Discover key statistics and figures from the IndexBox market intelligence platform.
679
The global beef market stood at $379.4B in 2021, approximately mirroring the previous year. This figure reflects the...
