US pork exports steady in January
From total production pork production, pork exports represented 24.7%, down by 1.5% compared to the previous year. Analysts at USMEF say that for muscle cuts only, the percentage exported declined slightly to 21.5%. In addition, the pork export value was at an average of $50.93 per head slaughtered, up 1% year-over-year.
Pork exports to Mexico kept their strong pace from 2017, increasing in January by 1% in volume to 72,997 mt and by 4% in value to $133.5 million.
Mexico remains the second-largest destination after China/Hong Kong for US pork variety meat.
As reported by USMEF, other highlights for US pork were:
Exports to leading value market Japan totaled 35,048 mt (up 11 percent) valued at $146.4 million (up 17 percent). Chilled exports were up 15 percent in volume (20,212 mt) and 21 percent in value ($96.8 million).
Exports to Korea, which posted impressive gains in 2017, continued to gain momentum in January as volume increased 17 percent to 18,879 mt and value climbed 20 percent to $54.2 million.
Led by solid gains in mainstay markets Honduras and Guatemala and exceptional growth in El Salvador, pork exports to Central America increased 18 percent in volume (6,179 mt) and 20 percent in value ($14.5 million).
Year-over-year increases in both Australia and New Zealand pushed export volume to the Oceania region up 10 percent to 7,613 mt, while export value increased 15 percent to $22.2 million. Pork exports to Oceania are primarily composed of raw material for further processing, with Australia being one of the leading destinations for U.S. hams.
Led by strong growth to Vietnam, January export volume to the ASEAN region climbed 16 percent to 3,053 mt and value was up 17 percent to $7.9 million. The strong performance in Vietnam helped offset lower exports to the Philippines, the region’s largest destination for U.S. pork.
Reflecting larger domestic production in China and correspondingly lower hog and pork prices, exports to China/Hong Kong fell 16 percent to 31,997 mt, but still achieved a 2 percent increase in value to $77.9 million. For muscle cuts only, exports to China/Hong Kong increased 10 percent in volume (12,827 mt) and 14 percent in value ($25.6 million) from a year ago, but slowed from the fourth quarter pace when shipments gained momentum ahead of Chinese New Year. Following two big years, January pork variety meat exports to the region were the lowest since 2015.
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