Pork Exports Top Previous Annual Record
Source: U.S. Meat Export Federation (USMEF)
Jan 8, 2021
November pork export volume was steady year-over-year at 258,801 mt, with value down 2% at $697.5 million. January-November results set new annual records for both volume (2.72 million mt, up 14% from the previous yearís pace) and value ($7.03 billion, up 13%). Pork muscle cut exports also shattered previous annual records, increasing 18% year-over-year to 2.29 million mt, valued at $6.08 billion (up 15%).
Pork export value equated to $63.33 per head slaughtered in November, up 1% from a year ago and the highest since May. The January-November average was $58.53, up 12%. Exports accounted for 29.9% of total pork production in November and 27% for muscle cuts, each up slightly from November 2019. Through November, exports accounted for 29.3% of total production and 26.6% for muscle cuts, each up significantly from the 2019 ratios of 26.4% and 23%.
Pork exports strengthen to Japan, Mexico, CAFTA region
Although China/Hong Kong remained the largest destination for U.S. pork in November, momentum continued to build in other markets. November exports to Japan increased 6% from a year ago to 34,676 mt, valued at $146.4 million (up 7%). Through November, exports to Japan were up 4% year-over-year in volume (353,636 mt) and increased 6% in value ($1.49 billion). U.S. share of Japanís total pork imports increased to 36%, up from 31% in 2019, driven by strong demand for U.S. ground seasoned pork and chilled and frozen U.S. pork cuts, following the Jan. 1, 2020 implementation of the U.S.-Japan Trade Agreement.
U.S. pork shipments to Mexico continued to trend higher in November at 65,136 mt, up 13% from a year ago, with value steady at $124 million. Through November, exports were down 4% to 616,827 mt, valued at $1.02 billion (down 11%). Pork muscle cut exports to Mexico were steady with 2019 at 520,157 mt, valued at $871.2 million (down 9%). U.S. share of Mexicoís pork imports jumped to 87% in 2020, up from a low of 82% in 2019.
Led by Honduras and Guatemala, November pork exports to Central America increased 8% year-over-year in both volume (10,712 mt) and value ($26.7 million). Through November, exports to the region pulled within 1% of 2019ís record pace at 86,349 mt, valued at $209.2 million (also down 1%).
Other January-November highlights for U.S. pork exports include:
∑ November exports to China/Hong Kong were 3% below the previous yearís large volume at 83,396 mt, and fell 5% in value to $193.8 million. But through November, exports to the region were still up 72% to 955,008 mt, valued at $2.18 billion (up 85%).
∑ Surging demand in Chile and continued signs of recovery in Colombia pushed November exports to South America to 14,296 mt (up 8% from a year ago), valued at $35.6 million (up 10%). Through November, exports were still 22% below 2019ís record pace at 110,947 mt, valued at $274.3 million (down 23%).
∑ November exports to the ASEAN were down 6% from a year ago at 5,124 mt, but still climbed 28% in value to $13.6 million. Led by the Philippines and Vietnam, January-November exports to the region increased 29% to 72,282 mt, valued at $172.8 million (up 42%).
∑ Strong demand in the Dominican Republic helped push January-November exports to the Caribbean 7% above the previous yearís pace at 51,770 mt, with value up 2% to $122.4 million. Exports to Trinidad and Tobago, an especially strong destination for pork variety meat, set a new record in 2020, reaching 5,164 mt through November.
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