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Which markets are sustaining the US beef exports?

Beef

The American beef producers can count only on few markets to grow in the near future.

Posted on May 18 ,11:15

US beef exports are up 12.2% in the first quarter of this year but growth is reported only in a few export markets. The products were shipped to 100 countries and the last 85 of them only account for 5.9% while the top 6 are representing 86.5% of total beef exports.

The number seven to fifteen export markets account for 7.6 percent of beef exports. Most of these are small markets with a limited potential to be significantly bigger markets for U.S. beef. These markets include such countries as Chile, Philippines, Netherlands, Guatemala, the Dominican Republic, and the United Arab Emirates, explained Derrell Peel from Oklahoma State University in an article for Drovers magazine.

Vietnam (nr.10) is an exception as it was the sixth largest export market in the last couple of years but most of that volume is believed to be pushed further into China.
China is currently positioned as number 12 on that top and it accounts for less than 1% of total US beef exports. Japan is the destination for US beef but exports in Q1 are decreasing compared with the same period of 2017. South Korea is the second largest market and is already up 28.8 percent for the year to date.
Mexico, the third place in this top have registered a modest growth by 3.1% while Hong Kong (4) and Taiwan (6) are marking an increase of 33.7% and 36.7% respectively. Canada, number 5 in top 100 beef export markets is down by 9.6% compared with Q1 of 2017.
A US Department of Agriculture analysis is showing that China has a potential to become the largest beef importer in the world in the next few years, at this point the beef imports in the Asian country making a jump from 72 percent of U.S. import levels in 2017 to 87 percent of U.S. beef imports in 2018.

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