Pork Highlights May 2019:

Pork: 172,172 mt, -1%, $481 million, +4%
PVM: 45,827 mt, +6%, $87 million, -12%
Pork + PVM: 217,999 mt, +0.4%, $568 million, +0.9%

January – May 2019:

Pork: 835,815 mt, -4%, $2.182 billion, -7%
PVM: 199,209 mt, -7%, $392 million, -21%
Pork + PVM: 1.035 million mt, -4.5%, $2.574 billion, -10%

In May, pork muscle cut exports were down just 1% from last year as higher exports to China/HK (+9,900 mt), Australia/NZ (+5,000 mt), South America (+2,400 mt), Japan (+1,900 mt), Central America (+880 mt), Canada (+460 mt), the surrounding Russia region (+100 mt), and Africa (+20 mt) were outweighed by lower exports to Mexico (-18,950 mt), the Caribbean + DR (-2,100 mt), Korea (-830 mt), the ASEAN (-530 mt), Taiwan (-20 mt), and the EU (-13 mt). In May, pork exports to Mexico dropped to 40,357 mt, down 32% from 59,308 mt last May and the lowest since March 2016 (and otherwise the lowest since 2014). Exports to Japan were 35,291 mt, up 6% and the highest since November 2017. Exports to Korea (20,276 mt, -4%) were down slightly, while exports to Canada continued to be above year-ago levels at 15,017 mt, +3%). Exports to China/HK totaled 20,444 mt, up 94% from last year and the highest since May 2017. Exports to China were 19,310 mt, +110% and the highest since June 2016, while exports to HK remained slow at 1,134 mt, down 18%. Australia was the big growth market after China, with exports above 10,000 mt for the second consecutive month in May. May exports were 10,053 mt, up 96% and the second highest on record after December 2018. Exports to NZ also maintained momentum at 926 mt, up 10%. Exports to Colombia were also over 10,000 mt for the second consecutive month in May. Exports to Colombia were 10,509 mt, up 25% and also the second largest on record after December 2018. Exports were also higher to Chile (2,664 mt, +38%) but dropped to Peru (299 mt, -57%). In Central America, exports were higher to all countries in May with volumes led by Honduras (2,659 mt, +1%), Guatemala (1,462 mt, +8%), and Panama (1,169 my, +55%). But, exports to the DR were down 39% from last May’s high level (5,324 mt, the monthly volume record) at 3,229 mt. Exports to the Philippines (1,924 mt, -28%) were lower, but exports to Vietnam (418 mt, +8%) were higher. Exports to Taiwan were the lowest since last May at 752 mt, -3%.

In May, PVM exports were up 2,700 mt from last year led by growth to China/HK (+1,400 mt), Mexico (+920 mt), Canada (+620 mt), South America (+330 mt), Korea (+100 mt), and Central America (+90 mt). Exports were lower to Japan (-280 mt), Taiwan (-180 mt), the Caribbean + DR (-140 mt), the EU (-80 mt), Australia/NZ (-50 mt), the ASEAN (-50 mt), and Africa (-4 mt). PVM exports to China/HK totaled 24,998 mt, up 6% from last year and the highest since last April. Exports to China were 15,142 mt, up 23% and the highest since last March, while exports to HK were down 13% from last year at 9,856 mt, but were the highest since last October.

Exports to Mexico were 12,198 mt, up 8% from last year and the highest since January. Exports were higher to Canada (1,881 mt, +49%) and Korea (1,447 mt, +8%), but exports were lower to Japan (1,082 mt, -21%). Exports to the Philippines were down 40% from last year at 1,033 mt, while exports to Vietnam were 722 mt, up from 0 mt last year (as large exports of variety meats to Vietnam began last June and have continued since). PVM exports to Vietnam since last year have been mostly feet.

For January – May, total pork and pvm exports were down 48,500 mt from last year as higher exports to South America (+20,250 mt), Australia/NZ (+16,300 mt), Canada (+8,900 mt), Central America (+3,800 mt), Taiwan (+3,700 mt), the ASEAN (+460 mt), and the surrounding Russia region (+450 mt) were outweighed by lower exports to Mexico (-68,300 mt), China/HK (-13,800 mt), Korea (-12,300 mt), Japan (-7,800 mt), the Caribbean + DR (-580 mt), the EU (-400 mt), and Africa (-250 mt). May pork exports accounted for 23.2% of pork production and 27.3% when including variety meats, down from 24.0% and 27.8% for May 2018. For January – May, pork exports accounted for 22.1% of production and 25.4% when adding variety meats, down from 23.7% and 27.5% last year. May pork export value per head averaged $54.83/head, the highest since last May and down just $0.22/head from last May. For January – May, pork export value per head averaged $48.74/head, down $6.83/head or -12% from $55.57/head last year.

SOURCE: USMEF