Pork Highlights October 2019:

Pork: 181,534 mt, +7%, $502 million, +12%
PVM: 43,842 mt, +14%, $90 million, +2%
Pork + PVM: 225,376 mt, +8.5%, $592 million, +10%

January – October 2019:

Pork: 1.720 million mt, +5.5%, $4.662 billion, +5%
PVM: 410,450 mt, +5%, $817 million, -9%
Pork + PVM: 2.130 million mt, +5%, $5.479 billion, +3%

Pork muscle cut exports were up 7% or +12,400 mt year-over-year in October, led by a 31,400 mt increase to China/HK. Exports were also higher to Australia/NZ (+3,650 mt), Central America (+1,300 mt), and Canada (+870 mt). Exports were lower to Mexico (-11,600 mt), Japan (-4,850 mt), Korea (-3,600 mt), the ASEAN (-1,200 mt), Caribbean + DR (-700 mt), Taiwan (-690 mt), EU (-50 mt), and Africa (-40 mt). October exports to Mexico were the lowest since May at 44,241 mt, down 21% from last year. Exports to China/HK totaled 39,063 mt, up 411% from 7,647 mt last year. Exports directly to China were 36,817 mt, up 497% and the fourth highest monthly volume on record after July 2019, Nov 2011, and Aug 2019. Exports to HK were the highest since last January at 2,246 mt, up 51%. Exports to Japan were up from August and September but were down 14% from last year at 29,174 mt. Exports were higher to Canada (16,334 mt, +6%). Exports to Korea were the highest since May (14,764 mt, -20%). Oceania saw continued growth with higher year-over-year exports to Australia (8,796 mt, +65%) and New Zealand (635 mt, +36%). Exports to Colombia were the largest since May but were down year-over-year at 8,857 mt, -8%, while exports to Chile (2,282 mt, -35%) were down from last October’s large volume. For the ASEAN region, exports slowed to the Philippines (2,935 mt, -24%) and Vietnam (366 mt, -60%), while exports increased to Singapore (418 mt, +83%). Exports to Taiwan slowed to the lowest level since January 2017 at 486 mt, -59%. Growth was widespread across the Central America markets: Honduras (2,767 mt, +10%), Guatemala (1,744 mt, +21% and the second highest monthly volume after Oct 2017), Panama (1,457 mt, +29%), Nicaragua (722 mt, +55%), El Salvador (682 mt, +9%), and Costa Rica (605 mt, +28%). Exports to the DR have been below year-ago levels since April, and exports remained sluggish in October at 2,371 mt, down 24% from last year. Exports to the Bahama (551 mt, +8%) were the highest since December 2017.

October pvm exports were up 5,300 mt from last year with larger exports to China/HK (+5,300 mt), South America (+1,800 mt), the ASEAN (+1,100 mt), and the Caribbean + DR (+30 mt). Exports were lower to Mexico (-830 mt), Canada (-810 mt), Japan (-670 mt), Korea (-520 mt), Taiwan (-90 mt), and Central America (-80 mt). PVM exports to China/HK totaled 21,999 mt, up 32% from last year but the lowest since April. Exports to China were 18,581 mt, up 231% from last year, but exports to HK were 3,418 mt, down 68% year-over-year and the lowest since February. Exports to the ASEAN region were up 27% in volume in October but were down 19% in value. Volumes surged to Vietnam and were record large at 3,451 mt, up 43% (and were mostly exports of frozen pork feet), and volumes were also higher to the Philippines (1,608 mt, +5%). Volumes also surged to Chile and were the third highest on record (after Oct 2014 and Oct 2013) at 1,548 mt, up 361%, and exports to Colombia were the highest since Nov 2016 at 569 mt, up 427%. Exports were lower to Mexico (10,398 mt, -7%), Canada (1,138 mt, -41% and the lowest since Oct 2017), South Korea (682 mt, -43%), Japan (448 mt, -60% and the lowest since 2011), and Taiwan (315 mt, -22%).

January – October pork/pvm exports were up 109,600 mt from last year, driven by a 166,400 mt increase to China/HK. Exports were also higher to Australia/NZ (+26,800 mt), South America (+22,000 mt), Central America (+10,400 mt), Canada (+9,800 mt), and the Russia region (+600 mt, increases to Georgia, Ukraine, and Moldova). Exports were lower to Mexico (-71,900 mt), Japan (-22,500 mt), Korea (-19,400 mt), the ASEAN (-7,600 mt), Caribbean + DR (-5,000 mt), EU (-590 mt), Africa (-520 mt), and Taiwan (-290 mt).

October pork exports accounted for 20.9% of pork production and 24.0% when including variety meats, as compared to 20.7% and 23.6% for October 2018. For January – October, pork exports accounted for 22.6% of production and 26.0% when adding variety meats, up from 22.5% and 25.8% last year.

October pork export value per head averaged $48.13/head, up $2.06/head or +4% from last October. For January – October, pork export value per head averaged $51.12/head, down $0.62/head or -1% from $51.74/head last year.

SOURCE: USMEF