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The Midwest Cattleman · October 21, 2021 · P6
      Record Beef Exports In 2021

                                                                            By Derrell Peel - Oklahoma State University
         In the latest livestock            Beef exports continue to be  last year’s sharp drop.    Au-
      trade  data,  August  beef ex- fueled mostly by the strong  gust beef exports were down
      ports were up 21.3 percent  growth in the China/HK mar- to South Korea, 9.0 percent;
      year over year with year-to- ket, up 160.5 percent year  Canada, down 6.4 percent
      date  total beef exports also  over year in August.  Month- and Taiwan,  down 12.7  per-
      up 21.0 percent from 2020.   ly  exports for  August were  cent.
      Beef exports in the month of  also higher year over year to             The previous record for
      August were an all-time re- Japan, up 10.4 percent and  annual beef exports was in
      cord for any month.                Mexico, up 49.1 percent over  2018.  However, 2021 beef ex-             South Korea continues to
                                                                            ports are up 9.1 over 2018 for    be the second largest beef
                                                                            the January – August period       export market with exports
                                                                            and are forecasted to finish      growing by 23.9 percent since
                                                                            this year 8.0 – 9.0 percent       2018.  South Korea’s share of
                                                                            above the 2018 level.  Chang-     total beef exports in the Jan-
                                                                            es in the composition of beef     uary to August period has in-
                                                                            exports since 2018 show how       creased from 20.6 percent in
                                                                            U.S. beef export markets are      2018 to 23.4 percent in 2021.
                                                                            developing.   Japan remains       South Korea is closing on and
                                                                            the largest export market for     may surpass Japan in the
                                                                            U.S.  beef  but  is  declining  in   next few months as the larg-
                                                                            total and as a share of total     est U.S. beef export market.
                                                                            beef exports.   For the first     In four of the eight months so
                                                                            eight  months  of 2021, beef      far this year (January, Febru-
                                                                            exports to Japan are down         ary, April and May), monthly
                                                                            7.5 from 2018 and the share       beef exports to South Korea
                                                                            of total beef exports to Japan    have exceeded exports to
                                                                            have dropped from 28.9 per-       Japan.
                                                                            cent in 2018 to 24.5 percent
                                                                            this year.                                      continued on page 25

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