US pork exports reported higher levels in February compared to those from 2017
US pork exports were up 4% in volume in February compared to the same month in 2017, reaching 205,466 metric tons (mt) and increased in value by 12% in the same period, reaching $547.2 million.
Through February, pork exports were 2 percent ahead of last year’s pace at 408,934 mt, while export value climbed 10 percent to $1.09 billion.
February exports accounted for 27.8 percent of total pork production and 24 percent for muscle cuts only – up from 27.6 percent and 22.9 percent, respectively, a year ago. Through February, the percentage of total pork production exported was slightly lower year-over-year at 26.1 percent, while the percentage of muscle cuts exported edged higher to 22.7 percent. February export value averaged $56.78 per head slaughtered, up 9 percent from a year ago. Through February, per-head export value was $53.70, up 5 percent.
Pork exports steady to Mexico; solid growth in Korea, Japan and Latin America
February pork exports to leading volume market Mexico were steady with last year at 64,523 mt, while export value was slightly higher at $117.5 million. Through February, export volume was steady with last year’s record pace at 137,520 mt, while export value increased 3 percent to $251 million.
In Japan, the leading value destination for U.S. pork, February volume was steady year-over-year at 32,418 mt, while value was up 3 percent to $134.7 million. Through February, export volume to Japan increased 6 percent from a year ago to 67,466 mt and value climbed 10 percent to $281.1 million. This included a 7 percent increase in chilled pork exports to 36,929 mt, valued at $176.9 million (up 11 percent).
Pork exports to South Korea climbed 33 percent in volume (40,710 mt) and 43 percent in value ($119 million). Most U.S. pork products now enter the Korean market duty free under the Korea-U.S. Free Trade Agreement (KORUS), and high-quality, affordable U.S. pork is helping to underpin Korea’s record-breaking pork consumption. USMEF continues to help position U.S. pork in new and exciting ways in Korea, including the addition of pulled pork to many restaurant menus, a selection of high-end sausages at convenience stores and a wide array of home meal replacement and snack items sold at retail and through e-commerce.
Through the first two months of 2018, other highlights for U.S. pork include:
Led by strong growth in Colombia and Peru, pork exports to South America were 9 percent ahead of last year’s pace in volume (17,855 mt) and 14 percent higher in value ($43.1 million), with consumption growth in the region continuing to outpace domestic production.
Solid growth in Honduras, a doubling of exports to El Salvador and a steady performance in Guatemala pushed pork export volume to Central America 16 percent above last year’s pace at 12,255 mt, while value climbed 20 percent to $28.9 million. Exports also increased year-over-year to Nicaragua, Panama and Belize.
Exports to the Philippines, the mainstay destination for U.S. pork in the ASEAN and the region’s largest import market, increased 3 percent in volume (4,746 mt) and remained steady with last year’s pace in value ($10.8 million). Exceptional growth in Vietnam (901 mt valued at $3.7 million, up 272 percent and 469 percent, respectively) pushed exports to the ASEAN region 18 percent higher in volume (6,178 mt) and 29 percent higher in value ($16.9 million). Exports also increased year-over-year to Singapore, Indonesia and Malaysia.
In China/Hong Kong, pork export volume fell 14 percent year-over-year to 69,515 mt, but value increased 3 percent to $164 million. Muscle cut exports increased 7 percent to 28,775 mt, while variety meat exports declined 24 percent in volume (40,740 mt) but with sharply higher prices value only dipped 2 percent to $107.4 million. The Chinese government recently imposed a 25 percent tariff on imports of U.S. pork and pork variety meat, in addition to the 12 percent tariff already in effect in China. The higher tariff rate is not reflected in the January-February results, as it took effect April 2. But the additional tariff will put U.S. pork at a significant disadvantage compared to China’s other major suppliers: the European Union, Canada, Brazil and Chile. China’s total import demand has also slowed with its rebound in domestic production and a significant decrease in domestic hog prices.
Despite fewer cattle being slaughtered overall in Denmark compared to the previous year, Danish C...
Farmers will pay a methane tax (£34 per tonne – doubling by 2035) including cattle an...
"The flock figure of around 8.7 million recorded for the last two years is the lowest level since...
