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USMEF: March pork exports largest in nearly two years

March exports of U.S. pork were the largest since May 2021, according to data released by USDA and compiled by USMEF.

Posted on May 09 ,00:10

March pork exports totaled 260,195 metric tons (mt), up 17% year-over-year and the ninth largest volume on record. Export value was also ninth largest at $724 million, up 18% from a year ago. These results capped a strong first quarter for U.S. pork as exports reached 716,691 mt, up 14% from a year ago, valued at $1.96 billion (up 15%).

"It’s great to see U.S. pork exports continue to expand in many of our Western Hemisphere markets, but there is also notable momentum in the Asia Pacific", said USMEF President and CEO Dan Halstrom. "With consumer activity in the region rebounding toward pre-COVID levels and U.S. pork very competitively priced compared to European product, 2023 holds excellent potential for broad-based growth".

March was another terrific month for pork exports to Mexico, which remain well above last year’s record pace. March exports totaled 95,030 mt, up 15% from a year ago and the second largest on record (behind January 2023), while value climbed 31% to $195.7 million. First quarter shipments to Mexico were up 11% to 270,056 mt, while value soared 34% to $541.7 million. Brazilian pork gained access to Mexico late last year, and small volumes have arrived in the market. Brazil reported shipments to Mexico of 27 mt in February and 189 mt in March. 

March pork exports to the Dominican Republic totaled 13,181 mt, up 87% from a year ago and shattering the previous record (10,681 mt) set in February. Export value to the DR also reached a record $33.6 million, up 88%. With a rapid rebound in tourism, strong retail demand, a significant tariff advantage over other major suppliers and domestic production still limited due to African swine fever (ASF), first quarter exports to the DR climbed 72% from last year’s record pace to 32,047 mt, while export value was up 87% to $85.1 million. Exports also trended higher to the Bahamas, Leeward-Windward Islands, Netherlands Antilles and Cayman Islands and rebounded to Trinidad and Tobago, pushing first quarter shipments to the Caribbean up 63% to 36,598 mt, valued at $101.5 million (up 72%). 

With reduced import tariffs and domestic production still struggling to recover from ASF, demand for U.S. pork is strengthening in the Philippines. March exports were the largest since August at 5,077 mt, up 65% from a year ago, valued at $9.6 million (up 42%). First quarter exports to the Philippines totaled 11,769 mt, up 49%, while export value climbed 43% to $28.9 million. For the ASEAN region, first quarter exports increased 49% in volume (13,960 mt) and 40% in value ($35.2 million). Exports to Malaysia are on a record pace at 556 mt, up from just 73 mt a year ago, including record-large shipments of 467 mt in March as Malaysian production is also impacted by ASF and high input costs. 

Other first quarter highlights for U.S. pork exports include: 

• March pork exports to South Korea increased 26% from a year ago to 19,054 mt, with value up 14% to $58.6 million. This pushed the first quarter volume 3% above last year’s pace at 45,059 mt, though value was still down 7% to $143.4 million. 
• After trending lower in recent years, pork exports to Australia – a key market for boneless hams and loins for further processing – have started to rebound in 2023. First quarter exports climbed 26% from a year ago in both volume (10,106 mt) and value ($36 million). 
• Pork exports to Japan also edged higher in March, increasing 4% to 33,297 mt, though value was slightly lower at $133.1 million. For the first quarter, exports to Japan trailed last year’s pace by 1% in volume (90,329 mt) and 8% in value ($362.8 million). 
• Exports to China/Hong Kong continue to trend well above year-ago levels, with first quarter shipments up 29% to 134,881, while export value increased 26% to $352.2 million, mainly driven by the strong growth in variety meats. 
• Demand for U.S. pork is also rebounding in Taiwan, where first quarter shipments nearly tripled the low volume posted a year ago, climbing 191% to 1,492 mt. Export value soared 275% to $5.5 million. 
• While China/Hong Kong (see above) remains the top destination for U.S. pork variety meat, first quarter exports also increased significantly to Mexico, the Philippines, Colombia, the Dominican Republic, Honduras and Vietnam. First quarter shipments totaled 147,338 mt, up 37% from a year ago, while value increased 23% to $345.6 million. 
• March pork export value equated to $63.15 per head slaughtered, up 15% from a year ago, while the first quarter average increased 11% to $60.29. March exports accounted for 29.1% of total pork production and 25% for muscle cuts only. The first quarter ratios were 28.2% and 24.1%, respectively, up from 25.4% and 22.6% in the first quarter of 2022. 

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