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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
