Derrell S. Peel, Oklahoma State University
The latest beef trade data shows a continuation of recent trends – decreased exports and increased imports. Beef exports in April were down 8.6 percent year over year and are down 4.2 percent for the January – April period. Beef imports were up 44.9 percent year over year in April and up 28.4 percent for the year-to-date.
In April, beef exports to South Korea were up 15.3 percent from last year and are up 3.1 percent so far this year. South Korea was the largest beef export market in April and is the largest for the year-to-date. Beef exports to Japan were up 8.1 percent year over year in April but are down 0.9 percent thus far in 2025. Mexico jumped to the number three spot in April despite a drop in beef exports of 9.5 percent for the month compared to last year. Mexico is down 9.9 percent for the January-April period year over year in the number four spot.
The most noticeable early impacts of the tariffs is the 67.7 percent decrease in beef exports to China in April. However, beef exports to Hong Kong were up 86.6 percent in April due to differences in tariffs between Hong Kong and mainland China. The two markets are usually considered as a single market, so combined April beef exports were down 52.2 percent year over year and are down 13.8 percent thus far in the year. China/Hong Kong was the fourth largest beef export market in April but remains the third largest for the year-to-date.
Beef exports to number five market Canada were down 14.0 percent in April and are down 0.5 percent year over year for the first four months of the year. Taiwan was down 18.8 percent in April compared to last year and is down 7.4 percent thus far in 2025.
Beef imports from Brazil jumped 308.5 percent in April making Brazil the largest source of beef imports thus far in 2025. Australia is number two with April imports from the country up 33.1 percent year over year and up 32.3 percent for the year-to-date. Beef imports from third ranked Canada were down 14.4 percent in April and are down 9.6 percent year over year for the first four months of the year. Beef imports from number four New Zealand were up 49.2 percent from last year and are up 17.5 percent through April. Beef imports from Mexico were down 0.7 percent year over year in April and are up 10.4 percent compared to the January – April period last year. Mexico is the number five source of beef imports. Uruguay is the sixth largest beef import source, up 15.7 percent year over year in April and up 36.1 percent in the first four months of the year.
The complex trade situation will continue to evolve in the coming months with continued policy uncertainty and global market disruptions. Trade relationships are shifting rapidly and market volatility is expected going forward.
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