Canada: Fresh Beef Carcase Market 2024

Fresh Beef Carcase Market Size in Canada

The Canadian fresh beef carcase market stood at $X in 2023, growing by X% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Fresh Beef Carcase Production in Canada

In value terms, fresh beef carcase production rose notably to $X in 2023 estimated in export price. In general, the total production indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Fresh Beef Carcase Exports

Exports from Canada

For the fourth year in a row, Canada recorded growth in shipments abroad of fresh or chilled carcases of beef and veal, which increased by X% to X tons in 2023. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in years to come.

In value terms, fresh beef carcase exports skyrocketed to $X in 2023. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked in 2023 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for fresh beef carcase exports from Canada, with a X% share of total exports. It was followed by Mexico (X tons), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to the United States totaled X%.

In value terms, the United States ($X) remains the key foreign market for fresh or chilled carcases of beef and veal exports from Canada, comprising X% of total exports. The second position in the ranking was held by Mexico ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to the United States stood at X%.

Export Prices by Country

In 2023, the average fresh beef carcase export price amounted to $X per ton, picking up by X% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, fresh beef carcase export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2023 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%).

Fresh Beef Carcase Imports

Imports into Canada

In 2023, purchases abroad of fresh or chilled carcases of beef and veal increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, imports, however, recorded a noticeable slump. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2023, imports remained at a lower figure.

In value terms, fresh beef carcase imports soared to $X in 2023. In general, imports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, the United States (X tons) constituted the largest fresh beef carcase supplier to Canada, with a X% share of total imports. Moreover, fresh beef carcase imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and the Netherlands (X% per year).

In value terms, the United States ($X) constituted the largest supplier of fresh or chilled carcases of beef and veal to Canada, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Australia (X% per year).

Import Prices by Country

The average fresh beef carcase import price stood at $X per ton in 2023, which is down by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform