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Update on Beef Export Markets                                                                 The Midwest Cattleman · April 22, 2021 · P6

      By Derrel S. Peel, Oklahoma State University Extension Livestock Marketing Specialist

                           Beef     ex- 2020 were up by 15.6 percent        for January and February is  the second largest beef ex-
                        ports     have over 2016.    Total U.S. beef        down 1.1 percent year over  port market in 2016, mov-
                        evolved  sig- exports dropped 4.2 percent           year.    However, total  annu- ing ahead of both Canada
                        nificantly in  year over year in 2019 from          al beef exports for 2021 are  and Mexico.  Beef exports to
                        recent  years  the all-time peak level in           forecast to increase modest- South Korea have increased
                        in a very dy- 2018 with decreased exports           ly over last year.   Figure 1  by an average of 17.4 percent
                        namic       en- to most major export desti-         shows the market share of  in the last five years, push-
                        vi ro nm ent  nations.  The COVID-19 pan-           beef exports to major desti- ing the country to a nearly
      of global politics and trade  demic significantly disrupt-            nations in 2016 and 2020.         23 percent market share in
      policies; direct and indirect  ed global beef trade in 2020.            Japan has been the larg- 2020, just behind Japan.  In
      impacts of animal disease  Total beef exports dropped a               est U.S. beef export market  fact, in the first two months
      outbreaks; and growing beef  further 2.3 percent year over            since 2013 (and was for many  of 2021, beef exports to South
      preferences and consump- year in 2020 as a result of the              years prior to 2004) with the  Korea are up 15.1 percent
      tion.                              pandemic.                          2020 market share at 28 per- year over year pushing South
         Compared to five years             Thus far in 2021, the two-      cent of total exports.   Beef  Korea just ahead of Japan as
      ago, total beef exports in  month  total of  beef exports             exports to Japan grew at an  the number one beef export
                                                                            average  rate of  9.7 percent  market so far this year.
                                                                            annually from 2016 to 2020           The combined China/Hong
                                                                            with peak exports in 2018  Kong market is the third larg-
                                                                            and a decrease in 2019 be- est U.S. beef export market.
                                                                            fore rebounding modestly  Though the data is reported
                                                                            in 2020, despite pandemic  separately, it is important to
                                                                            disruptions.  In the first two  look at the net total since the
                                                                            months of 2021, beef exports  two really represent a sin-
                                                                            to Japan are down 11.5 per- gle market.   Reported sepa-
                                                                            cent year over year.              rately, Hong Kong has been
                                                                              South Korea has been  a major export market for
                                                                            the fastest and most consis- U.S. for more than a decade.
                                                                            tently growing major U.S.  However, it has been recog-
                                                                            beef export market in recent
                                                                            years.    South  Korea became                   continued on page 18
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