Page 6 - MWC 10-21-2021s

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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