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Pork Exports On Track For Another Record Year

by 5m Editor
13 December 2007, at 9:52am

US - US pork exports (including variety meat) in October broke the record for a single month set in Nov. 2006. October’s exports totaled 130,424 metric tons (mt) valued at $313.33 million. The previous record was 122,225 metric tons valued at $289 million.

The October increase was enough to bring the January through October total volume to 1,035,816 mt, a 1 percent increase over the same period in 2006 and a 9 percent increase in value at $2.524 billion — on track for another record-breaking year

Highlights from the latest results include:

  • U.S. pork production increased 11 percent in October, compared to October 2006, and October exports (not including variety meats) were equivalent to 14 percent of October production.
  • January through October exports to Japan, the leading market for U.S. pork, increased 9 percent in volume (296,359 mt) over last year and 13 percent in value ($953.4 million).
  • Mexico remains the No. 2 market despite a 25 percent year-on-year decrease in volume (221,743 mt) and a 21 percent drop in value ($362.4 million).
  • The Hong Kong/China region is the largest growth market this year, with exports (including variety meat) increasing 86 percent and 105 percent in volume (128,947) and value ($200.2 million) respectively in Jan.-Oct.
  • Canada holds its No. 3 position in value terms, with a 12 percent increase to $397.3 million, but is behind Hong Kong/China in volume at 118,414 mt (up 5 percent).
  • Exports to South Korea, the No. 5 market, increased 6 percent in value to $181 million despite an 8 percent decline in volume to 75,778 mt.
  • Exports to Russia also hit a monthly record and were nearly double the volume exported in October 2006, at 14,374 mt, putting the January through October total at 73,274 mt, a 7 percent increase over the same period last year. Although pork muscle cut exports to Russia are nearly even with last year, pork variety meat exports increased 50 percent.
  • Exports to Australia increased 38 percent through October and totaled 26,253 mt valued at $71.3 million. These very positive results come at the same time the Australian government has launched an investigation into whether to implement safeguard measures to protect producers from imports.
  • Exports to Central and South America also increased 19 percent through October, with the main growth markets of Honduras, Guatemala, and Colombia.
  • U.S. pork exports (including variety meat) to the Caribbean (excluding Cuba but including the Dominican Republic) increased 1 percent to 14,775 mt.
  • Exports to the EU increased by 68 percent, the top three destinations being France, Britain and Germany.
  • Exports to the ASEAN increased 45 percent to 11,216 mt, with the Philippines as the primary destination followed by Singapore and Vietnam.

Further Reading

- Go to our previous item on this story by clicking here.
- Or, for more commentary on this year's US exports click here.

5m Editor