Pork Highlights August 2020:

Pork: 180,369 mt, +0.9%, $449 million, -11%
PVM: 37,524 mt, -12.5%, $79 million, -7%
Pork + PVM: 217,893 mt, -2%, $528 million, -10%

January – August 2020:

Pork: 1.683 million mt, +22%, $4.451 billion, +20%
PVM: 309,836 mt, -5%, $675 million, +5%
Pork + PVM: 1.993 million mt, +17%, $5.126 billion, +18%

August pork muscle cut exports were 180,369 mt, up 0.9% or +1,650 mt from last year but down 5% from July. Compared to last year, August pork cut exports were higher to the ASEAN (+5,000 mt), Canada (+3,800 mt), Japan (+2,200 mt), Taiwan (+1,560 mt), and China/HK (+1,000 mt), while exports were lower to Korea (-4,700 mt), Mexico (-4,300 mt), South America (-2,200 mt), Australia/NZ (-540 mt), Caribbean + DR (-100 mt), Europe (-40 mt), and Central America (-30 mt). Exports to Mexico (46,462 mt, -8%) slowed 4% from July. Exports to China (38,523 mt, +2%) were the lowest since last October but were still higher year-over-year, while exports to Hong Kong (1,242 mt, +8%) were the lowest since last August. Exports to Japan were the highest since April (+29,698 mt, +8%), while exports to Korea (8,654 mt, -35%) slowed to the lowest level since 2017. Exports to Canada (19,074 mt, +24%) were the highest since March. Exports to Australia (5,979 mt, -4%) increased by over 50% from the June low, but exports to New Zealand (952 mt, -22%) edged down 3% from July to August. Exports to Vietnam (4,669 mt, +1,031 mt) were record large for the second consecutive month. Exports to the Philippines (4,384 mt, +24%) have gained momentum since June and in August were the highest since 2010 and the fourth highest monthly volume on record. Exports to Colombia (4,287 mt, -23%) were the highest since April, and exports to Chile (2,078 my, -30%) were the highest since May. Exports to Honduras (3,520 mt, +44%) and Guatemala (1,180 mt, -18%) were the highest since March, while exports to the Dominican Republic (2,492 mt, steady) slowed to the lowest level since December. Exports to Taiwan (2,647 mt, +144%) were the highest since 2010.

August pork variety meat exports rebounded to the highest level since April at 37,524 mt, but were down 7% or -5,300 mt from last year. Exports were higher to South America (+340 mt), ASEAN (+170 mt), Canada (+140 mt), and the Caribbean + DR (+20 mt), while exports were lower to China/HK (-2,700 mt), Mexico (-2,200 mt), Korea (-650 mt), Japan (-200 mt), and Central America (-120 mt). Compared to last year, higher exports to China (21,398 mt, +12%) were outweighed by slower exports to Hong Kong (784 mt, -87%). Exports to Mexico (8,425 mt, -20%) were the highest since March but remained lower year-over-year, while exports to Canada (1,352 mt, +12%) were higher year-over-year. Exports to the Philippines (1,195 mt, +14%) were the highest since March, and exports to Vietnam (499 mt, +5%) were the highest since the large volumes last Sep – Nov. Exports to Chile (960 mt, -9%) were the highest since last October, and exports to Colombia (731 mt, +266%) were the second highest monthly volume after November 2016. Exports to Japan (549 mt, -27%) were the highest since March, while exports to Korea (339 mt, -66%) slowed further in August. Exports were higher to Panama (297 mt, +13%) but lower to Guatemala (285 mt, -33%). Exports to Trinidad and Tobago (175 mt, +447%) were strong, and year-to-date exports of 1,253 mt already exceeded the 2018 record total of 1,222 mt.

U.S. Pork & Variety Meat Export Value in August 2020

Monthly US Pork & Variety Meat Export Volume in August 2020

January – August pork and variety meat exports totaled 1.993 million mt, up 17% or +290,000 mt. Exports were higher to China/HK (+382,000 mt), ASEAN (+12,500 mt), Canada (+6,050 mt), Japan (+2,800 mt), Caribbean + DR (+1,600 mt), Russia region (+720 mt), and Africa (+350 mt), while exports were lower to Mexico (-37,800 mt), Korea (-32,800 mt), South America (-30,800 mt), Aus/NZ (-13,250 mt), EU (-760 mt), Central America (-750 mt), and Taiwan (-220 mt).

August pork exports accounted for 23.1% of pork production and 25.9% when including variety meats as compared to 23.7% and 27.2% for August 2019. January – August pork exports accounted for 27.3% of pork production and 30.0% when adding variety meats, up from 23% and 26.4% for January – August 2019.

August pork export value per head averaged $47.47/head, down $6.72/head or -12% from $54.18/head last August. For January – August, pork export value per head slaughtered averaged $59.59/head, up $7.90/head or +15% from $51.70/ head last year.

SOURCE: USMEF