At the end of the first month of trading in 2022, almost half the tariff-free quota that Ireland exports beef to the US under has been filled.

This is because Brazilian beef exports to the US have continued their surge into the new year, despite the Chinese market reopening to them.

Up to 22 January, 10,260t of Brazilian beef was imported into the US, which is almost five times the 1,908t in the same period in 2021.

Whereas Australia, New Zealand, Uruguay and Argentina all have a dedicated US beef quota, Brazil like Ireland use an open 65,000t quota that is open to all countries approved to supply beef to the US.

After showing some promise in 2020, Irish beef exports to the US fell in 2021 and in the first few weeks of 2022, just 262t of Irish beef came into the US

While this quota has not been filled in recent years, though it came close in 2021, at the present rate of use it is likely to be filled by early in March.

At that point, any beef supplied without quota from either Brazil or Ireland will carry a 25% tariff.

After showing some promise in 2020, Irish beef exports to the US fell in 2021 and in the first few weeks of 2022, just 262t of Irish beef came into the US.

This is just over one-third of the 660t that was imported in the same period last year.

Meanwhile the price of beef continues to soar in the US, reaching the equivalent of almost €4.50/kg when adjusted to reflect the 60% kill out in the US.

The beef futures index is also running at 163 for March, rising to 173 for May and 183 for the second half of the year, reflecting the fact that cow numbers are at their lowest for seven years, according to the USDA.