Pork Highlights April 2020:

Pork: 218,260 mt, +23%, $582 million, +27%
PVM: 45,788 mt, +15%, $101 million, +30%
Pork + PVM: 264,048 mt, +22%, $683 million, +28%

January-April 2020:

Pork: 926,438 mt, +40%, $2.525 billion, +48%
PVM: 175,727 mt, +15%, $389 million, +27%
Pork + PVM: 1.102 million mt, +35%, $2.912 billion, +45%

April pork muscle cut exports totaled 218,260 mt, up 23% or plus 41,300 mt from last year. Volumes were below the December – March highs, but still remained at historically high levels. Export growth continued to be driven by China/HK (+65,200 mt from last year), and exports were also higher to Japan (+9,200 mt), ASEAN (+370 mt), the Russia region (+130 mt) and Africa (+60 mt). Exports were lower year-over-year to Mexico (-7,500 mt), Korea (-9,400 mt), South America (-6,300 mt), Canada (-4,500 mt), Australia/NZ (-3,600 mt), Central America (-1,400 mt), Caribbean + DR (-450 mt), Taiwan (-400 mt), and Europe (-150 mt). Exports to China/HK totaled 83,127 mt, +365% from last year and the second highest monthly volume after December 2019 at 84,862 mt. Exports just to China totaled 81,162 mt, +382%, while exports to Hong Kong were 1,965 mt, +88%. Exports to Japan (38,758 mt, +31%) trended higher for the fourth month and volume reached the highest level since 2015. However, exports were significantly lower to Mexico (36,528 mt, -17% and the lowest since 2013), Korea (14,325 mt, -40%), and Canada (12,756 mt, -26% and the lowest since Feb 2017). Exports were also lower to Australia (6,755 mt, -33%) and New Zealand (851 mt, -24%). In South America, exports remained strong to Chile (3,431 mt, +15%) but dropped to Colombia (4,750 mt, -54%) and Peru (617 mt, -63%). Exports were lower to Honduras (2,528 mt, -19%), Guatemala (1,086 mt, -13%), and Panama (888 mt, -30%), but exports to Nicaragua (815 mt, +10%) remained on a record pace in April. Exports were just slightly lower to the Dominican Republic (3,132 mt, -2%). Exports were lower to the Philippines (1,748 mt, -8%) but were higher to Vietnam (850 mt, +86%) and Singapore (571 mt, +11% and the highest since last July). Exports to Vietnam were down from over 1,000 mt in both Feb and March, but were still one of the highest monthly volumes in April. Exports to Taiwan (1,304 mt, -23%) were the highest since last April.

April pork variety meats were 45,788 mt up 15% or plus 6,000 mt from last year. April exports were down 4% from March but were otherwise the highest since May 2019. Exports were higher year-over-year to China/HK (+13,200 mt) but were lower to other markets: Mexico (-4,700 mt) ASEAN (-730 mt), Japan (-670 mt), Korea (-300 mt), Canada (-210 mt), Taiwan (-160 mt), Caribbean + DR (-140 mt), Central America (-80 mt), and South America (-50 mt).

Combined exports to China/HK totaled 33,801 mt, up 64% from last year and the second highest monthly volume after December 2016. Exports to China (31,165 mt, +113%) set a new record, while exports declined to Hong Kong (2,636 mt, -56%) and were the lowest since 2013. Exports to Mexico (6,229 mt, -43%) were the lowest since 2003, and exports also decreased to Canada (1,393 mt, -13%), Korea (788 mt, -27%), and Japan (474 mt, -59%). Exports decreased to the Philippines (578 mt, -61%) but remained strong to Vietnam (406 mt, +76%).

American Pork & Variety Meat Export Value in April 2020

American Pork & Variety Meat Export Volume in April 2020

Exports trended lower for Chile (453 mt, -13%) but remained above year-ago levels for Colombia (177 mt, +4%). Exports to Taiwan (380 mt, -29%) were lower year-over-year and were down 26% from March but were otherwise the highest since May 2019. Exports were higher to Guatemala (368 mt, +42%).

For January – April, total pork and variety meat exports were up 285,000 mt from last year, with exports to China/HK also increasing by 285,000 mt. Exports were also higher to Japan (+19,600 mt), Mexico (+5,700 mt), Canada (2,500 mt), the ASEAN (+2,200 mt), Central America (+2,050 mt), the Caribbean + DR (+600 mt), and Africa (+220 mt). Exports were lower to Korea (-17,100 mt), South America (-8,800 mt), Taiwan (-4,100 mt), Australia/NZ (-2,400 mt), the EU (-400 mt), and the Russia region (-220 mt).

April pork exports accounted for 32.2% of pork production and 36.2% when including variety meats as compared to 23.3% and 26.6% for April 2019. January – April pork exports accounted for 29.3% of pork production and 32.4% when adding variety meats, up from 21.8% and 24.9% for January – April 2019. With the decrease in production in April, the share of pork and the share of pork and pork variety meats exported were record high.

April pork export value per head averaged $72.55/head, up $21.97/head or +43% from $50.58/head last April, surpassing the previous monthly high from June 2014. For January – April, pork export value per head slaughtered averaged $66.36/head, up $19.11/head or +40% from $47.25 head last year.

SOURCE: USMEF