US pork exports jump to 59,600 tonnes per week
US pork exports have reached 59,600 tonnes in the last week of February. This is the highest level reported since September 2020 and the prices in the US market are responding to it. "Of that 28,200 tonnes were exported to China, also a record figure for the last 5 months. Quite a positive sign with US hog supply declining and exports showing good demand," commented Jim Long, President & CEO of Genesus Inc.
Another positive sign is represented by the prices for cull sows, which is in $0.70 range. "This past summer they were in the 20? range. Huge jump in value. A $200 per head increase. Good time to sell your sows that you kept going and replace with gilts. Sow is worth more than a purchased gilt, a real-time opportunity," added Mr Long.
US pig meat and offal exports increased by 11% in 2020, compared to the year before, reaching 3.08 million tonnes. This is despite volumes stalling in the latter part of the year, with shipments actually a little below 2019 levels in the final quarter.
China became the largest importer of US pig meat, accounting for 31% of total shipments and volumes increasing by nearly 80% on 2019 levels.
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