Cliquer ici pour lire l'infolettre en français	View in browser

 The value of Canadian beef exports exceeded the $5 billion mark in 2023, eclipsing the previous highwater mark of $4.68 billion achieved in 2022, despite a slight dip in export volume. January to December 2023 beef exports were up 7% in value and down 2% in volume from the year prior. Beef export values hit record-highs to the U.S. (+17%) and second highest on record to Mexico (+32%). On the volume side, the full year results benefitted from strong demand in December, which saw Canadian beef export volumes up 9% year-over-year and up 31% from the five-year average for December. For 2023, beef export volumes were up to the U.S. (+4%), Hong Kong and Macau (+18%), and Mexico (+22%), and declined to Japan (-33%), South Korea (-25%), Southeast Asia (-25%), and MENA (-26%). Exports to Mexico were the highest since 2010. International trade was impacted by exchange rates, particularly to Asia, but overall prices were robust pushing values to a new record high, noted Canfax. Domestic production was down 5% in 2023, but export volumes were only down 2%, indicating a relatively higher percentage of Canadian beef production was dedicated to the export market in 2023. Canadian beef exports in 2022 were 511,000 tonnes, the second largest year for export volume on record and just 10,500 tonnes short of the 2002 record, and the largest year ever for export value. Canada Beef’s work in international markets continues to create opportunities for the Canadian beef industry to realize greater value for the carcass than could be realized in the domestic market alone. According to Canfax, beef exports provide an additional $1,158 per head/carcass in value (5-year 2018-2022 average) to the packer that determines value throughout the supply chain. This represents 40% of the fed animal value. Back to main page

CONTACT US Suite 146, 6715 – 8th Street NE Calgary, AB Canada T2E 7H7 Tel: (403) 275-5890 info@canadabeef.ca canadabeef.ca	You’re receiving this newsletter because you’ve subscribed to Canada Beef Performs. No longer interested? UNSUBSCRIBE. Forward to a friend? CLICK HERE. Like to subscribe? CLICK HERE Comments? Email our editor at editor@newsletter.ca © 2023 Canada Beef. All rights reserved.