Pork Highlights:
January 2020:

Pork: 233,989 mt, +46%, $650 million, +57% (second highest for volume and value after Dec 2019)

PVM: 39,614 mt, -4%, $88 million, +9%

Pork + PVM: 273,603 mt, +36%, $739 million, +50% (second highest for volume and value after Dec 2019)

At 234,000 mt, January pork exports were the second highest on record (after 239,000 mt in Dec 2019), up 46% or +73,000 mt year-over-year, driven by a 68,000 mt increase to China. While China accounted for over 90% of the year-over-year growth in exports in January, pork muscle cut exports also increased to Mexico (+6,200 mt), Australia/NZ (+3,020 mt), Canada (+2,300 mt) , Central America (+180 mt), and Caribbean + DR (+110 mt). Exports were lower to South America (-2,220 mt), Korea (-1,670 mt), Taiwan (-1,090 mt), Japan (-720 mt), and the ASEAN (-500 mt). Exports to China/HK totaled 76,281 mt, up 814% from 8,344 mt last January, and the second highest on record after 84,862 mt in December 2019. Exports to China (74,350 mt, +887%) were the second highest following exports of 82,659 mt in Dec, while exports to Hong Kong (1,931 mt, +138%) were higher than last January’s low total but were the lowest since August. Exports also increased strongly to Mexico (58,289 mt, +12% and the highest since May 2018 and the 9th highest monthly export volume on record) and Canada (17,133 mt, +16%). January exports were lower to Japan (31,044 mt, -2%) and Korea (15,573 mt, -10%). Exports to Australia (10,667 mt, +31%) were record large, and exports to New Zealand (1,160 mt, +75%) were the third largest on record after July and August 2019. Lower exports to South America were driven by Colombia (5,946 mt, -31%), as exports slowed to the lowest level since last August. Exports were also lower to Peru (362 mt, -7%) but were higher Chile (3,075 mt, +19% - the highest since last July and the seventh highest monthly volume on record). Exports to the DR (3,246 mt, +1%) were the highest since last March. Exports were lower to Honduras (2,136 mt, -13%) and Guatemala (1,188 mt, -7%), but exports to Nicaragua (825 mt, +23%) were the second highest on record after last November. Exports to the Philippines (1,211 mt, -35%) slowed to the lowest level since January 2017, while exports to Vietnam (615 mt, +48%) were the highest since November 2018. Exports to Taiwan (690 mt, -61%) were the highest since last July but were well below year-ago levels. For the Caribbean, exports slowed to the Bahamas (346 mt, -7%) and the Leeward Windward Islands (189 mt, -6%) but were higher to Trinidad and Tobago (179 mt, +18%).

Pork variety meat exports were down 4% or -1,530 mt in January to 39,614 mt (the lowest since April), although value was up 9% to $88 million. Exports were higher to China/HK (+2,300 mt), the ASEAN (+510 mt), Canada (+300 mt), and the Caribbean (+180 mt). Exports were lower to Mexico (-2,050 mt), Taiwan (-620 mt), Japan (-610 mt), Korea (-540 mt), Central America (-380 mt), Australia/NZ (-340 mt), and South America (-330 mt). Exports to China/HK totaled 20,721 mt, up 13% from last year but the lowest since April. Exports were higher to China (17,299 mt, +53% year-over-year but the lowest since last June) but were lower Hong Kong (3,422 mt, -52% and the lowest since 2014 apart from last October).

American Pork & Variety Meat Export Value in January 2020

American Pork & Variety Meat Export Volume in Janaury 2020

Exports to Mexico (12,171 mt, -14%) were the highest since May but were down from last January’s large total, and exports to Canada (1,634 mt, +22%) were the highest since last June. Exports were higher to the Philippines (1,181 mt, +10%) and Vietnam (490 mt, +880% from just 50 mt last Jan but down from recent high of 3,450 mt last Oct). Exports were lower to Korea (707 mt, -43%), Japan (534 mt, -53% and the lowest since Jan 2015 apart from last Oct), and Taiwan (163 mt, -79%). Exports to the DR (228 mt, +178%) maintained momentum in January after annual exports in 2019 totaled 1,572 mt, the highest since 2009. Exports were lower to Guatemala (358 mt, -6%) and Chile (249 mt, -52%) but were higher to Colombia (329 mt, +18%), Total pork/pvm exports in January were up 72,000 mt from last year, led by an increase of 70,300 mt to China/HK. Exports also increased to Mexico (+4,200 mt), Australia/NZ (+2,700 mt), Canada (+2,600 mt), Caribbean + DR (+280 mt), and the ASEAN (+10 mt). Exports were lower year-over-year to South America (-2,550 mt), Korea (-2,200 mt), Taiwan (-1,700 mt), Japan (-1,300 mt), and Central America (-200 mt).

January pork exports accounted for 27.4% of pork production and 29.8% when including variety meats (the second highest percentages after Dec 2019) as compared to 20.3% and 23.6% for January 2019.

January pork export value per head averaged $62.53/head (down from Nov/Dec 2019 but otherwise the highest since 2014), up $17.78/head or +40% from $44.75/head last January.

SOURCE: USMEF