Beef export and import update

Total beef imports remain significantly stronger in 2024, up 23.0 percent year over year in September and up 21.1 percent thus far in 2024 (Figure 2). Canada remains the number one beef import source, just fractionally higher than Australia. Beef imports from Canada were down 0.7 percent year over year in September but remain up by 2.7 percent over last year. Imports from Australia have jumped sharply in 2024, up 60.0 percent in September and up 68.4 percent for the year to date compared to one year ago.

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Brazil has also grown sharply as a source of U.S. beef imports, up 87.4 percent in September and up 44.9 percent for the January-September period. Brazil is the number three beef import source in 2024, up from number five last year. The number four beef import market is New Zealand, with September imports down 20.0 percent from one year ago but up 6.2 percent year over year for the first nine months of the year. Mexico is the number five beef import source, down from third place last year, with September imports up 6.2 percent year over year, but down 13.4 percent for the year to date. Uruguay is the sixth largest beef import source and was up 11.2 percent in September and is up 64.8 percent year over year thus far in 2024.