Beef Imports
The United States has imported 1.5 billion pounds of beef so far in 2024, marking a significant increase of 21.7% compared to the same period in 2023.
U.S. Beef Imports Up 22% in 2024
The United States has imported 1.5 billion pounds of beef so far in 2024, marking a significant increase of 21.7% compared to the same period in 2023. Let's take a closer look at the top five beef suppliers and some notable changes.
Top 5 Beef Suppliers:
Canada
2023: 321,776,000 pounds
2024: 359,622,000 pounds
Change: +11.76%
Australia
2023: 149,604,000 pounds
2024: 300,104,000 pounds
Change: +100.60%
Highlight: Australia's beef exports to the U.S. have more than doubled, making it the second-largest supplier and showing the most dramatic increase among the top five.
Brazil
2023: 245,732,000 pounds
2024: 284,791,000 pounds
Change: +15.89%
New Zealand
2023: 167,742,000 pounds
2024: 202,378,000 pounds
Change: +20.65%
Mexico
2023: 226,979,000 pounds
2024: 186,397,000 pounds
Change: -17.88%
Note: Mexico is the only top-five supplier showing a decline in exports to the U.S. this year.
Observations:
Australia's Massive Increase: Australia's export surge is the standout, with a 100.60% increase, likely driven by recovery from past drought conditions and increased beef production.
Consistent Growth: Both Brazil and New Zealand have shown solid growth, with increases of 15.89% and 20.65%, respectively. These countries continue to be reliable sources of beef for the U.S. market.
Mexico's Decline: Mexico's exports have dropped by 17.88%, which could be attributed to domestic supply issues or increased demand within Mexico itself.
Other Notable Changes:
Uruguay has increased its exports to the U.S. by a whopping 71.24%, climbing from 55,490,000 pounds to 95,023,000 pounds.
United Kingdom and France have shown remarkable increases, with the UK up 385.86% and France up 105.62%. These countries, although lower in total volume, indicate expanding market participation.
Paraguay has entered the market with nearly 3 million pounds of beef, showing the potential for new suppliers.
This year’s data underscores the dynamic nature of global beef trade, with significant shifts among leading exporters. The U.S. beef import market remains robust and diverse, adapting to global production changes and economic factors.
Source: ERS/USDA (pounds) - Rob Cook, robcookkc@gmail.com
