Though Lower Than Last Year, Beef Exports Impressive

DENVER, CO – Through the first 11 months of 2019, U.S. beef exports were 3 percent below the previous year’s record pace in volume at 1.21 million metric tons (mt), valued at $7.4 billion (also down 3 percent). However, 2019 is already the second-highest year for beef export value, trailing only the record set in 2018 ($8.33 billion). According to the U.S. Meat Export Federation (USMEF), the beef export value per head of fed slaughter averaged $308.74, a 4 percent year-over-year decrease. Exports accounted for 14.1 percent of total beef production. Tariff relief for U.S. beef is also a key component of the new trade agreement with Japan, where competitors have enjoyed a significant advantage. The duty rate for U.S. beef muscle cuts was 38.5 percent but dropped by nearly one-third when the agreement entered into force on January 1st – which mirrors the 26.6 percent rate for Australia, New Zealand, Canada, and Mexico. Another reduction comes April 1st when the new Japanese fiscal year begins.