The USDA-ERS released meat trade data for December, finalizing values for 2024. Total imports of beef and veal reached 4.6 billion pounds, climbing +24.4% for the year.
While most sources contributed to the increase, imports from Canada (-0.5%) and Mexico (-7.9%) experienced declines, reaching 1 billion and nearly 600 million pounds, respectively.
Substantial gains on a per weight basis were observed in Australia (+448 million pounds), Brazil (+261 million pounds), and Uruguay (+130 million pounds). Argentina experienced notable relative increases compared to 2023 by +37.3%.
Beef exports contracted -1.1% in 2024, declining 35 million pounds to just over 3 billion pounds. Decreases during the year were largely attributed losses from South Korea (-6.2%), China (-5.5%), and Canada (-6.4%), which fell to 630, 475, and 252 million pounds, respectively.
Some increases were sustained in exports with Mexico rising +7.8% to 343 million pounds.
