Output of periodic monthly:
Downloading GeoIP database files:
/usr/local/etc/periodic/monthly/geoipupdate: /usr/local/sbin/geoipupdate: not found
IMHO geoipupdate should be instaled in sbin/. So either the install script or the periodic script is wrong.
The geoipupdate port doesn’t install a periodic script.
I haven't heard back so I'm assuming you've sorted it out on your end. If you're still having problems, post a follow-up here.