Price for Meat of Bovine Animals; Fresh or Chilled in the United States - 2023
Contents:
- Price for Meat of Bovine Animals; Fresh or Chilled in the United States (CIF) - 2023
- Price for Meat of Bovine Animals; Fresh or Chilled in the United States (FOB) - 2023
- Imports of Meat of Bovine Animals; Fresh or Chilled in the United States
- Exports of Meat of Bovine Animals; Fresh or Chilled in the United States
Price for Meat of Bovine Animals; Fresh or Chilled in the United States (CIF) - 2023
In December 2023, the average import price for meat of bovine animals; fresh or chilled amounted to $8,767 per ton, approximately mirroring the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in April 2023 when the average import price increased by 6% against the previous month. Over the period under review, average import prices reached the peak figure at $9,117 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 highest price was recorded for prices from Australia ($10,646 per ton) and Canada ($8,444 per ton), while the price for Uruguay ($7,706 per ton) and Nicaragua ($7,919 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 (+1.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Meat of Bovine Animals; Fresh or Chilled in the United States (FOB) - 2023
The average export price for meat of bovine animals; fresh or chilled stood at $10,729 per ton in December 2023, reducing by -3.6% against the previous month. Over the period from December 2022 to December 2023, it increased at an average monthly rate of +1.2%. The most prominent rate of growth was recorded in February 2023 an increase of 7.2% against the previous month. The export price peaked at $11,342 per ton in September 2023; however, from October 2023 to December 2023, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($17,818 per ton), while the average price for exports to Mexico ($7,884 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 (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Meat of Bovine Animals; Fresh or Chilled in the United States
After three years of growth, purchases abroad of meat of bovine animals; fresh or chilled decreased by -3.6% to 589K tons in 2022. The total import volume increased at an average annual rate of +2.0% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 6.5% against the previous year. As a result, imports reached the peak of 611K tons, and then declined modestly in the following year.
In value terms, imports of meat of bovine animals; fresh or chilled contracted modestly to $4.7B in 2022. In general, total imports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +11.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +37.3% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. As a result, imports reached the peak of $4.9B, and then dropped slightly in the following year.
| Import of Meat of Bovine Animals; Fresh or Chilled in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 1,550 | 1,611 | 2,259 | 2,279 | 13.7% |
| Mexico | 1,147 | 1,255 | 1,667 | 1,524 | 9.9% |
| Australia | 583 | 619 | 625 | 546 | -2.2% |
| Nicaragua | 54.3 | 78.9 | 85.1 | 93.2 | 19.7% |
| Others | 105 | 151 | 296 | 279 | 38.5% |
| Total | 3,440 | 3,715 | 4,932 | 4,722 | 11.1% |
Top Suppliers of Meat of Bovine Animals; Fresh or Chilled to the United States in 2022:
- Canada (304.3K tons)
- Mexico (211.8K tons)
- Australia (39.2K tons)
- Nicaragua (12.3K tons)
Exports of Meat of Bovine Animals; Fresh or Chilled in the United States
In 2022, after three years of growth, there was significant decline in shipments abroad of meat of bovine animals; fresh or chilled, when their volume decreased by -11% to 425K tons. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 11% against the previous year. As a result, the exports attained the peak of 478K tons, and then fell in the following year.
In value terms, exports of meat of bovine animals; fresh or chilled reduced to $4.4B 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 in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 32%. As a result, the exports reached the peak of $4.7B, and then declined in the following year.
| Export of Meat of Bovine Animals; Fresh or Chilled in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 1,102 | 1,122 | 1,351 | 1,108 | 0.2% |
| South Korea | 547 | 664 | 1,012 | 956 | 20.5% |
| Mexico | 744 | 562 | 714 | 629 | -5.4% |
| Canada | 463 | 514 | 545 | 576 | 7.6% |
| Taiwan (Chinese) | 282 | 316 | 437 | 385 | 10.9% |
| China | 14.7 | 58.5 | 225 | 261 | 160.9% |
| Netherlands | 108 | 115 | 115 | 181 | 18.8% |
| Others | 261 | 206 | 301 | 283 | 2.7% |
| Total | 3,522 | 3,558 | 4,700 | 4,379 | 7.5% |
Top Export Markets for Meat of Bovine Animals; Fresh or Chilled from the United States in 2022:
- Japan (124.2K tons)
- Mexico (78.6K tons)
- South Korea (75.1K tons)
- Canada (65.3K tons)
- Taiwan (Chinese) (25.8K tons)
- China (20.8K tons)
- Netherlands (12.4K tons)
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