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USMEF: US pork exports remained on a record pace in November

Pork

November exports of U.S. red meat posted year-over-year gains across all categories, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).

Posted on Jan 10 ,00:25

Pork exports totaled 272,141 metric tons (mt) in November, up 5% from a year ago, while export value increased 6% to just under $783 million. These results included an especially strong month for pork muscle cut exports, which increased 6% to 221,652 mt. Muscle cut export value was the third highest on record at $671.4 million.

"Another terrific month for pork demand in Mexico and throughout the Western Hemisphere", noted USMEF President and CEO Dan Halstrom. "It was also encouraging to see exports trend higher to Japan and sustain strong growth in Oceania and Southeast Asia".

Through the first 11 months of 2024, pork exports were also up 5% year-over-year in volume (2.76 million mt) and 6% in value ($7.85 billion). When December results are available, exports will exceed 3 million mt for the first time, topping the previous high (2.98 million mt) reached in 2020. Export value will exceed $8.5 billion, easily surpassing the 2023 record of $8.16 billion.

November pork exports to leading market Mexico totaled 99,849 mt, the fourth highest this year and nearly matching the very strong volume from a year ago, while export value increased 2% to $225.7 million. The USDA Food Safety and Inspection Service transitioned to electronic export certificates for Mexico on Nov. 4, leading to delays for some shipments, but November volumes confirm these obstacles were temporary.

January-November exports to Mexico were 5% above the record pace of 2023 (when exports increased by 14% over 2022) at 1.05 million mt. Export value climbed 10% to $2.33 billion – only slightly below the full-year value record ($2.35 billion) posted in 2023. 

Pork exports to Colombia were record-large in November, climbing 19% from a year ago in volume (14,471 mt) and 23% in value ($42.1 million). With one month to spare, exports to Colombia already set annual records, soaring 29% to 114,619 mt and exceeding the previous full-year high of 106,456 mt reached in 2021. Export value jumped 36% to $329.4 million, topping the previous full-year record ($272 million) from 2023.

Despite modestly lower shipments to leading markets Honduras and Guatemala, November pork exports to Central America still increased 14% from a year ago to 18,896 mt and climbed 15% in value to $59 million. Shipments were record-high to Nicaragua, El Salvador and Belize and were the second largest on record to Costa Rica. Through November, exports to the region already exceeded previous full-year highs for volume and value, both of which were reached in 2023. January-November shipments increased 20% to 143,131 mt, valued at just under $450 million (up 28%).

Other January-November results for U.S. pork exports include:

• November was another outstanding month for pork exports to Oceania, with shipments increasing 28% from a year ago to 8,221 mt, while value climbed 29% to $30.1 million. Fueled by strong demand in both Australia and New Zealand, January-November exports soared 33% to 92,902 mt, which is already the second largest (behind 2109) year on record for the region. Export value increased 36% to $337.7 million, just short of the previous full-year high reached in 2019. Exports to New Zealand are on a record pace, while exports to Australia will be the second largest on record, trailing only 2019.    
• Another strong performance in the Dominican Republic and robust growth in Cuba pushed November pork exports to the Caribbean to 12,947 mt, up 2% from a year ago, valued at $39.3 million (up 1%). Through November, exports to the region increased 5% to 116,849 mt, while value climbed 8% to $347.1 million. December exports will likely push 2024 exports past the annual records (121,652 mt valued at $354.8 million) set in 2023. This will be achieved despite heightened competition in the DR from Brazilian pork.  
• November pork exports to Japan increased 3% year-over-year to 27,699 mt, while value was 4% higher at $116.1 million. January-November exports to Japan were still down 1% from a year ago at 313,033 mt, but value edged slightly higher to $1.29 billion.
• Shipments increased year-over-year to the Philippines, Malaysia and Vietnam, fueling a 65% increase in November pork exports to the ASEAN region in both volume (5,517 mt) and value $11.6 million. January-November exports to the ASEAN increased 21% from a year ago to 72,678 mt, while value was 13% higher at $160 million. Exports to Malaysia already set annual records at 7,770 mt (up 71%) valued at $24.3 million (up 70%).
• Although pork exports to China/Hong Kong remain well below the large volumes seen earlier this decade, the market has recently regained significant momentum. November exports totaled 44,973 mt, up 23% from a year ago, while value increased 22% to $110.2 million. January-November shipments to China/Hong Kong were still down 7% in volume (434,583 mt) and 11% in value ($1.04 billion). China/Hong Kong is the largest destination for U.S. pork variety meat, which accounts for more than two-thirds of total export volume to China.
• Pork export value climbed to $72.20 per head slaughtered in November, up 9% year-over-year and the highest since April. The January-November average was $66.05 per head, up 5%. Exports accounted for 32.4% of total November pork production and 28.4% of muscle cuts, each up more than two full percentage points from a year ago. January-November exports accounted for 30.1% of total production and 26% of muscle cuts, up from 29.4% and 25.2%, respectively, during the same period in 2023. 

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