Pork Highlights June 2019:

Pork: 170,670 mt, +11.5%, $486 million, +15%
PVM: 42,217 mt, +10.5%, $84 million, -6%
Pork + PVM: 212,887 mt, +11%, $569 million, +11.5%

January – June 2019:

Pork: 1.006 million mt, -1.5%, $2.667 billion, -4%
PVM: 241,426 mt, -5%, $476 million, -19%
Pork + PVM: 1.248 million mt, -2%, $3.143 billion, -6.5%

Pork muscle cut exports were up 17,600 mt from last year in June as higher exports to China/HK (+16,700 mt), Australia/NZ (+2,400 mt), South America (+900 mt), Canada (+800 mt), Central America (+540 mt), Mexico (+20 mt), and the Russia region (+20 mt) more than offset lower exports to Korea (-2,300 mt), the Caribbean + DR (-580 mt), ASEAN (-400 mt), Japan (-140 mt), EU (-60 mt), Taiwan (-60 mt), and Africa (-30 mt). Pork muscle cut exports to China/HK totaled 25,891 mt, up 180% from last year and the highest since May 2016. Exports direct to China were 24,750 mt, up 235% from just 7,394 mt last year and the highest since May 2016. Exports to HK were 1,141 mt, down 38% from last year. Pork exports to Mexico were the highest since January at 49,891 mt, steady with last year. Exports to Japan were down just 0.4% from last year at 30,568 mt. Exports to Korea move seasonally lower in the summer months, and exports slowed to 13,471 mt in June, down 15% from last year. Exports to Taiwan were down 5% to 1,213 mt. Exports to Canada have been above year ago levels since March, and in June, exports were up 6% to 15,173 mt. Exports to Colombia were down 6% to 7,051 mt, but exports to Chile (4,290 mt, +71%) set a new monthly record. Exports to Australia (8,159 mt, +41%) maintained their record pace. Exports to the DR (2,269 mt, -27%) were below year-ago levels for the third consecutive month and were the lowest since 2017. For Central America, exports were lower to Honduras (2,133 mt, -4%) and Guatemala (1,219 mt, -10%) but were higher to Panama (1,171 mt, +54%). Exports to the Philippines (2,633 mt, -5%) were the highest since last October, but exports to Vietnam slowed to 82 mt, -82% after being over 400 mt in April and May.

PVM exports were up 4,000 mt in June, led by higher exports to China/HK (+5,100 mt), South America (+600 mt), Canada (+350 mt), Japan (+100 mt), and Central America (+40 mt). Exports were lower to the ASEAN (-1,500 mt), Taiwan (-520 mt), and Mexico (-150 mt). Combined PVM exports to China/HK totaled 24,476 mt, down 27% from last year. Exports to China were up 50% and were the highest since June 2017 at 16,954 mt, while exports to HK were down 6% from last year at 7,522 mt. PVM exports to Mexico slowed to 9,946 mt, down 1.5% from last year and the lowest since last December. Exports were higher to Canada (1,889 mt, +23%) and Japan (1,174 mt, +10%), but exports were lower to South Korea (1,023 mt, -2%). Exports to Canada have been above year-ago levels since March, and in June, exports were the highest since last October. Exports to the Philippines were down 53% from last year at 1,043 mt, and exports to Vietnam slowed from 722 mt in May to 157 mt in June, down 67% from last year.

Exports to Chile were the highest since 2014 at 815 mt, up 379% from last year. PVM exports to Guatemala have been on a record pace this year, and momentum continued in June (368 mt, +9%).

January – June total pork and pvm exports were down 26,950 mt from last year. Exports were higher to South America (+21,700 mt), Australia/NZ (+18,700 mt), Canada (+10,100 mt), China/HK (+8,000 mt), Central America (+4,400 mt), Taiwan (+3,200 mt), and the Russia region (+500 mt). Exports were lower to Mexico (-68,400 mt), South Korea (-14,600 mt), Japan (-7,800 mt), the ASEAN (-1,400 mt), the Caribbean + DR (-1,200 mt), the EU (-520 mt), and Africa (-280 mt).

June pork exports accounted for 24.0% of pork production and 27.8% when including variety meats, up from 22.8% and 26.4% for June 2018 and the highest for both pork and pork/variety meat exports since April 2018. For January – June, pork exports accounted for 22.4% of production and 25.8% when adding variety meats, down from 23.6% and 27.3% last year.

June pork export value per head averaged $56.99/head, the highest since last April and up $3.86/head or +7% from last June. For January – June, pork export value per head averaged $50.05/head, down $5.13/head or -9% from $55.57/head last year.

SOURCE: USMEF