Pork Highlights
November 2020:

Pork: 217,343 mt, -0.1%, $599 million, -4%
PVM: 41,458 mt, -2%, $99 million, +9%
Pork + PVM: 258,801 mt, -0.4%, $698 million, -2%

January – November 2020:

Pork: 2.289 million mt, +18%, $6.084 billion, +15%
PVM: 428,036 mt, -5%, $943 million, +4%
Pork + PVM: 2.717 million mt, +14%, $7.028 billion, +13%

November pork muscle cut exports were 258,801 mt, down just 0.1% from last November and the 7th highest monthly volume after October 2019 – April 2020. Higher exports to Mexico (+7,100 mt), Japan (+2,200 mt), ASEAN (+1,350 mt), Caribbean + DR (+1,150 mt), Central America (+790 mt), Taiwan (+270 mt), Africa (+80 mt), Russia region (+70 mt), and the EU (+7 mt) were offset by lower exports to Korea (-6,900 mt), Australia/NZ (-2,900 mt), China/HK (-2,100 mt), South America (-920 mt), and Canada (-260 mt). Pork muscle cut exports to China/HK totaled 59,098 mt, the highest since June but down 3% year-over-year. Exports to China (57,932 mt, -1%) were also the highest since June, but exports to Hong Kong (1,166 mt, -56%) slowed to the lowest level since August 2019. Exports to Mexico (55,518 mt, +15%) were the highest since January. Exports to Japan (34,157 mt, +7%) were higher year-over-year for the fourth consecutive month. Exports were lower to Canada (18,784 mt, -1%). Exports to Korea (10,824 mt, -39%) remained lower year-over-year but were the highest since May. Exports to Colombia (6,942 mt, -29%) were the highest since March, and exports to Chile (3,716 mt, +106%) remained strong, exports to Peru (232 mt, +2%) were higher year-over-year. Exports to Australia (5,980 mt, -37%) remained off last year’s record pace, while November exports to New Zealand (1,109 mt, +159%) were the 6th highest monthly volume on record. For Central America, exports were record large to Honduras (4,130 mt, +23%) and Costa Rica (965 mt, +15%), and exports to Guatemala (1,856 mt, +13%) were the second highest on record. Exports were also higher to the Dominican Republic (3,544 mt, +71% and the highest since March), but exports were lower to Panama (1,105 mt, -29%) and Nicaragua (1,048 mt, -4%). Exports to the Philippines (2,707 mt, +37%) and Vietnam (1,204 mt, +161%) slowed from their high levels in the prior months but remained strong, while exports were lower to Singapore (292 mt, -10%). Exports to Taiwan (751 mt, +56%) dropped to the lowest level since March (after being 2,500 – 2,650 mt from Aug – Oct). Exports to the Leeward Windward Islands (336 mt, +8%) were the highest since 2018 and exports were also higher year-over-year to Trinidad and Tobago (274 mt, +14%), but exports were lower to the Bahamas (319 mt, -32%) and the Netherlands Antilles (191 mt, -52%).

November pork variety meat exports were the highest since April at 41,458 mt, down 2% or -800 mt year-over-year. Value was up 9% or +$8.5 million year-over-year at $99 million. In volume, November pork variety meat exports were higher year-over-year to South America (+2,000 mt), Mexico (+470 mt), and the Caribbean + DR (+90 mt), but exports were lower to the ASEAN (-1,700 mt), China/HK (-710 mt), Korea (-390 mt), Canada (-280 mt), Taiwan (-120 mt), Australia/NZ (-50 mt), and Central America (-10 mt). Pork variety meat exports to China/HK were the highest since April at 24,298 mt (-3% year-over-year). Exports to China (23,596 mt, +17%) were the third largest monthly volume on record after March and April 2020, but exports to Hong Kong (702 mt, -85%) remained well below year-ago levels. Exports to Mexico (9,618 mt, +5%) were down from 10,494 mt in October but were otherwise the highest since March.

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

U.S. Pork & Variety Meat Export Volume in November 2020

Exports to Chile (2,580 mt, +258%) have been strong since September and set a new record in November, and exports to Colombia (696 mt, +36%) were the fourth highest on record in November. Exports were lower to Canada (1,224 mt, -19%), Japan (519 mt, -14%), Korea (294 mt, -57%), and Taiwan (167 mt, -42%). Exports to the Philippines (781 mt, +44%) slowed to the lowest level since June, and exports to Vietnam (99 mt, -95%) slowed to the lowest level since January 2019. Exports were steady to Guatemala (239 mt) and were higher to Panama (130 mt, +35%). Pork variety meats to Trinidad and Tobago (130 mt, +829%) maintained their record pace in November.

January – November pork and pork variety meat exports totaled 2.717 million mt, up 14% or +327,000 mt from Jan – Nov 2019. Exports were higher year-over-year to China/HK (+400,000 mt), ASEAN (+16,050 mt), Japan (+13,100 mt), Canada (+11,900 mt), Taiwan (+3,900 mt), Caribbean + DR (+3,600 mt), Russia region (+1,000 mt), Africa (+510 mt). Exports were lower to Korea (-47,800 mt), South America (30,700 mt), Mexico (-25,100 mt), Australia/NZ (-19,800 mt), EU (-570 mt), and Central America (-450 mt).

November pork exports accounted for 27.0% of pork production and 29.9% when including variety meats as compared to 26.8% and 29.7% for November 2019. January – November pork exports accounted for 26.6% of pork production and 29.3% when adding variety meats, up from 23.0% and 26.4% for January – November 2019.

November pork export value per head averaged $63.33/head, up $0.43/head or +1% from $62.89/head last November. For January –November, pork export value per head slaughtered averaged $58.53/head, up $6.29/head or +12% from $52.24/ head last year.

SOURCE: USMEF