Mexican Beef and Cattle Production and Trade: Current Situation and Implications for Coming Years

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1 Mexican Beef and Cattle Production and Trade: Current Situation and Implications for Coming Years Derrell S. Peel Breedlove Professor of Agribusiness Oklahoma State University

2 Evolution of U.S.-Mexican Cattle and Beef Trade Pre Current Imports of Mexican cattle Current Imports of Mexican cattle Expanded beef exports to Mexico 2009 Current Imports of Mexican cattle Beef exports to Mexico Expanded beef imports from Mexico

3 Evolution of U.S.-Mexican Cattle and Beef Trade Pre Current Mexican cattle exports to U.S. Comparative advantage in cow-calf production (forage)

4 Thousands Cattle Imports from Mexico, Head

5 Evolution of U.S.-Mexican Cattle and Current Beef Trade Mexican cattle exports to U.S. Expanded U.S. beef exports to Mexico Comparative advantage in cattle feeding and meat processing Augment Mexican beef production Augment specific beef products (end meats)» Complimentary to U.S. beef demand Growing Mexican demand for fed beef

6

7 Million lbs. Beef Exports to Mexico

8 Evolution of U.S.-Mexican Cattle and Beef Trade Current Mexican cattle exports to U.S. U.S. beef exports to Mexico Expanded beef imports from Mexico Rapid growth in boxed beef marketing (infrastructure) Enhanced value relative to carcass system Enhanced carcass value Specific products in specific markets High U.S. market value (prices and exchange rate) Hispanic targeted market? Transportation advantage?

9 Million lbs BEEF IMPORTS FROM MEXICO Annual Annual Projected

10 Current Situation: U.S.-Mexican Cattle and Beef Trade Increased Beef Imports from Mexico More Boxed Beef Production (Structural change) Price and Exchange impacts Reduced Beef Exports to Mexico Price and Exchange impacts Weak Mexican Economy Changing Mexican Preferences? Expanded Imports of Mexican Cattle Drought impacts Market impacts

11 U.S. Beef Trade with Mexico 2012 Projected Million lbs Exports Imports

12 U.S. Imports of Mexican Beef January-July, 2012 HS Classification Product % of Total Boneless, Not Proc, FC 50% Bone-In, Not Proc, FC 39% Boneless, Proc, FC 3% Boneless, Proc, Froz 3% Bone-In, Proc, FC 2% Total 41,400.7 MT

13 Mexican beef in a supermarket in Oklahoma, September, 2012 Product originated at a TIF plant near Monterrey, Nuevo Leon, Mexico

14 Pesos/Kg Carcass Price, U.S. Select vs Mexico City, Pesos/kg, Jan 2003 Aug Select Mexico

15 EXCHANGE RATE US Dollar base, Monthly Pesos/$usd Mexico Livestock Marketing Information Center Data Source: Pacific Exchange Rate Service, Univ. of B.C., Compiled & Analysis by LMIC

16 U.S. Meat Exports to Mexico Million lbs Beef Pork Broilers

17 U S BEEF EXPORTS TO MEXICO Carcass Weight, Monthly Mil. Pounds Livestock Marketing Information Center Data Source: USDA-ERS & USDA-FAS

18 Million lbs BEEF EXPORTS TO MEXICO Annual Annual Projected

19 Pesos/Kg Slaughter Cattle Price, Mexico City Monthly, Jan 2002 Aug

20 Pesos/Kg Slaughter Cattle Price, Mexico City and Nebraska Monthly, Jan 2002 Aug Mexico Nebraska

21 Cattle Imports from Mexico Major Categories, Annual head hfrs strs <90 strs >

22

23 North American Drought Monitor June 30, 2011

24

25 North American Drought Monitor August 31, 2012

26 Millimeters Precipitation, Chihuahua, Mexico Annual, millimeters Total Average Source: SMN

27 Millimeters Monthly Precipitation, Chihuahua, Mexico Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg Source: SMN

28 Cattle Imports from Mexico Annual, Sep-Aug Cycle 1000 head TAM ZAC VER SIN SON NL DGO COAH CHIH Source: SNIIM

29 Cattle Imports from Mexico Annual, Sep-Aug Cycle 1000 head TAM ZAC VER SIN SON NL DGO COAH CHIH Source: SNIIM

30 Mexican Cattle Imports by State of Origin, Head State of Origin Ave as % of Ave. CHIHUAHUA % COAHUILA % DURANGO % NUEVO LEON % SONORA % SINALOA % VERACRUZ % ZACATECAS % TAMAULIPUS % Source: SNIIM

31 Mexican Cattle Imports Percent of Annual Total 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 10 yr ave

32 Thou. Head CATTLE IMPORTS FROM MEXICO Annual Annual Max Proj Proj

33 Cattle Imports from Mexico January-July 1000 head hfrs strs <90 strs >

34 Summary: Mexican Drought Impacts and Future Trade Flows U.S. imports of Mexican Cattle Significantly reduced in future Late /2015 U.S. beef exports to Mexico Positive: Reduced Mexican beef production Herd liquidation in drought and need to rebuild Negative: Weak Mexican Peso and economy U.S. beef is expensive U.S. imports of Mexican beef Growth but to what level? Value seeking/improved product mix

35 Contact :

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