Northern America: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Northern America

The North American fresh beef carcase market reduced modestly to $X in 2022, shrinking by -2.1% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Fresh Beef Carcase Production in Northern America

In value terms, fresh beef carcase production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2014 with an increase of 21%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Fresh Beef Carcase Exports

Exports in Northern America

In 2022, shipments abroad of fresh or chilled carcases of beef and veal decreased by -9.9% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.4% against 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, fresh beef carcase exports declined to $X in 2022. In general, exports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 51% against the previous year. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

In 2022, Canada (X tons), distantly followed by the United States (X tons) represented the major exporters of fresh or chilled carcases of beef and veal, together generating 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Canada (with a CAGR of +8.8%).

In value terms, the largest fresh beef carcase supplying countries in Northern America were Canada ($X) and the United States ($X).

Among the main exporting countries, Canada, with a CAGR of +14.1%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by 4.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2021 when the export price increased by 8%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.9%).

Fresh Beef Carcase Imports

Imports in Northern America

In 2022, after seven years of growth, there was significant decline in purchases abroad of fresh or chilled carcases of beef and veal, when their volume decreased by -13.9% to X tons. Overall, imports, however, posted a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by 29% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, fresh beef carcase imports fell sharply to $X in 2022. In general, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, imports attained the peak of $X, and then dropped markedly in the following year.

Imports by Country

The United States dominates imports structure, finishing at X tons, which was near 92% of total imports in 2022. It was distantly followed by Canada (X tons), mixing up an 8% share of total imports.

The United States was also the fastest-growing in terms of the fresh or chilled carcases of beef and veal imports, with a CAGR of +8.2% from 2012 to 2022. Canada (-5.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +18 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported fresh or chilled carcases of beef and veal in Northern America, comprising 87% of total imports. The second position in the ranking was taken by Canada ($X), with a 13% share of total imports.

In the United States, fresh beef carcase imports expanded at an average annual rate of +11.7% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, which is down by -4.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2021 when the import price increased by 28%. As a result, import price attained the peak level of $X per ton, and then shrank slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.2%).

Source: IndexBox Platform

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