U.S.: Beef Market 2020

Beef Market Size in the U.S.

The revenue of the beef market in the U.S. amounted to $X in 2018, remaining constant against the previous year. Over the period under review, beef consumption continues to indicate a slight decrease. The pace of growth was the most pronounced in 2014 when the market value increased by X% year-to-year. In that year, the beef market reached its peak level of $X. From 2015 to 2018, the growth of the beef market failed to regain its momentum.

Beef Production in the U.S.

In value terms, beef production totaled $X in 2018. Overall, beef production continues to indicate a mild contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. In that year, beef production attained its peak level of $X. From 2015 to 2018, beef production growth remained at a lower figure.

Beef Exports

Exports from the U.S.

Beef exports from the U.S. totaled X tons in 2018, going up by X% against the previous year. The total export volume increased at an average annual rate of +X% over the period from 2013 to 2018; the trend pattern remained consistent, with only minor fluctuations being observed over the period under review. The pace of growth was the most pronounced in 2018 with an increase of X% y-o-y. In that year, beef exports attained their peak and are likely to continue its growth in the immediate term.

In value terms, beef exports amounted to $X in 2018. The total export value increased at an average annual rate of +X% over the period from 2013 to 2018; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% y-o-y. In that year, beef exports reached their peak of $X. From 2015 to 2018, the growth of beef exports failed to regain its momentum.

Exports by Country

South Korea (X tons), Japan (X tons) and China (X tons) were the main destinations of beef exports from the U.S., together comprising X% of total exports. These countries were followed by Colombia, Australia, Egypt, the Dominican Republic, Honduras, Chile, the Philippines and China, Hong Kong SAR, which together accounted for a further X 2013 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Colombia, while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Korea ($X) and Colombia ($X) constituted the largest markets for beef exported from the U.S. worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, South Korea experienced the highest rates of growth with regard to exports, over the last five-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average beef export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the beef export price continues to indicate a slight decline. The pace of growth was the most pronounced in 2014 an increase of X% y-o-y. In that year, the average export prices for beef, veal, lamb and mutton attained their peak level of $X per ton. From 2015 to 2018, the growth in terms of the average export prices for beef, veal, lamb and mutton remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Japan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to China, Hong Kong SAR, while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into the U.S.

Beef imports into the U.S. amounted to X tons in 2018, surging by X% against the previous year. Overall, beef imports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, beef imports attained their peak figure at X tons in 2015; however, from 2016 to 2018, imports remained at a lower figure.

In value terms, beef imports totaled $X in 2018. Over the period under review, beef imports, however, continue to indicate a drastic decrease. The most prominent rate of growth was recorded in 2014 when imports increased by X% y-o-y. Imports peaked at $X in 2015; however, from 2016 to 2018, imports remained at a lower figure.

Imports by Country

Australia (X tons), Poland (X tons) and New Zealand (X tons) were the main suppliers of beef imports to the U.S., together accounting for X% of total imports. These countries were followed by Denmark, Canada, Uruguay and Brazil, which together accounted for a further X 2013 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by Brazil (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of beef to the U.S., comprising X% of total beef imports. The second position in the ranking was occupied by New Zealand ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2013 to 2018, the average annual rate of growth in terms of value from Australia totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (-X% per year) and Poland (+X% per year).

Import Prices by Country

The average beef import price stood at $X per ton in 2018, dropping by -X% against the previous year. Over the last five-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for beef, veal, lamb and mutton reached their peak figure at $X per ton in 2015; however, from 2016 to 2018, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was New Zealand ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced mixed trend patterns.

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Source: IndexBox Platform