Mexico big weekly buyer of U.S. pork, China disappoints

 

By John Perkins, Brownfield

October 31, 2019

 

Mexico’s appetite for U.S. pork continues to grow. The USDA says Mexico was the leading buyer of U.S. pork during the week ending October 24th, purchasing 16,900 tons, pushing their accumulated year-to-date total over 430,000 tons, and was the week’s biggest buyer of corn as well. China made bought 1,900 tons of pork for 2019 delivery, but canceled on 4,200 tons for 2020 delivery, while also buying nearly a half million tons of U.S. soybeans. Japan led the way for beef and wheat. The USDA’s next set of supply, demand, and production estimates is out November 8th...

 

… Net pork sales totaled 30,100 tons, an increase of 57% on the week, but a decrease of 68% from the four-week average. The listed buyers were Mexico (16,900 tons), Japan (2,700 tons), South Korea (2,700 tons), Canada (2,300 tons), and China (1,900 tons), with a cancellation by Chile (100 tons). Net sales of 1,800 tons for 2020 delivery were primarily to Australia (4,600 tons), South Korea (1,100 tons), and Chile (200 tons), with a cancellation by China (4,200 tons).

 

Net beef exports totaled 15,700 tons, 14% above the prior week and a big jump from the four-week average. The reported purchasers were Japan (4,900 tons), South Korea (4,200 tons), Hong Kong (2,700 tons), Mexico (1,200 tons), and Canada (1,000 tons). Sales of 400 tons for 2020 delivery were mainly to Hong Kong (200 tons) and Taiwan (100 tons).

 

Corn was reported at 549,100 tons (21.6 million bushels), 12% more than the previous week and 29% above the four-week average. Mexico picked up 297,400 tons and Saudi Arabia purchased 73,300 tons. Less than two months into the marketing year, corn sales are 449.0 million bushels, compared to 859.5 million this time last year...

 

Soybeans ...

 

Soybean meal ...

 

Wheat ...

 

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