Pork Highlights
February 2021:

Pork: 203,526 mt, -12%, $548 million, -13%
PVM: 35,714 mt, -16%, $81 million, -15%
Pork + PVM: 239,240 mt, -12%, $629 million, -13%

January – February 2021:

Pork: 411,760 mt, -11%, $1.099 billion, -14%
PVM: 76,135 mt, -7%, $173 million, -6%
Pork and PVM: 487,896 mt, -11%, $1.272 billion, -13%

February pork muscle cut exports totaled 203,526 mt, down 12% or -27,100 mt from last year. February pork muscle cut exports were higher to the ASEAN (+3,200 mt), Central America (+2,900 mt), Caribbean + DR (+1,600 mt), South America (+750 mt), Canada (+310 mt), EU 27 + UK (+100 mt), and Africa (+7 mt), while exports were lower to China/HK (-24,000 mt), Mexico (-3,800 mt), Japan (-3,500 mt), Korea (-3,100 mt), Australia/NZ (-1,200 mt), Taiwan (-240 mt), and the surrounding Russia region (-50 mt). February muscle cut exports to China/HK totaled 50,151 mt, -32% from last year and the lowest since last October with exports lower year-over-year to both China (49,046 mt, -32%) and Hong Kong (1,105 mt, -40%). After rebounding above prior year levels from last September – December, exports to Mexico (47,556 mt, -7%) slowed in January and February. Exports slowed to Japan (31,190 mt, -10%) and Korea (13,184 mt, -19%). Exports to Canada (17,418 mt, +2%) were higher year-over-year and were the highest since November. February exports to Colombia (8,834 mt, +54%) were the highest since November 2019, but exports were lower to Chile (2,281 mt, -47%) and Peru (295 mt, -55%). Exports to Australia (7,335 mt, -19%) were lower year-over-year but were the highest since last March, and exports were higher to New Zealand (1,066 mt, +91%). Exports to the Philippines (5,627 mt, +248%) were sharply higher and reached the second highest monthly volume on record after March 2010. Exports to Vietnam (764 mt, -48%) were lower year-over-year but were up from the slow volumes in December and January (450 mt and 367 mt). Exports to Central America maintained the strength seen since late last year in February: Dominican Republic (5,312 mt, +50% and record large for the second consecutive month), Honduras (3,738 mt, +31% and the fourth highest on record), Guatemala (2,400 mt, +85% and record large for the second consecutive month), El Salvador (1,292 mt, +73% and record large), Costa Rica (1,242 mt, +46% and record large for the second consecutive month), and Panama (926 mt, +34%). But, exports were lower to Nicaragua (432 mt, -37%). Exports to the Bahamas (398 mt, +27%) were above year-ago levels for the third month. Exports to Taiwan (372 mt, -39%) slowed to the lowest level since 2017.

February pork variety meat exports totaled 35,714 mt, down 16% or -6,700 mt from last year. February pork variety meat exports were higher than last year to Japan (+20 mt) and were steady to Central America and down slightly to the Caribbean + DR. Exports were lower to China/HK (-3,900 mt), Mexico (-850 mt), Canada (-650 mt), ASEAN (-550 mt), South America (-190 mt), Korea (-150 mt), and Taiwan (-90 mt). February pork variety meat exports to China/HK totaled 20,860 mt, down 16% from last year with lower exports to both China (20,539 mt, -1%) and Hong Kong (321 mt, -92%). Exports also slowed to Mexico (9,525 mt, -8%). Exports were lower to the Philippines (1,166 mt, -16%) and Vietnam (106 mt, -75%), although exports to Vietnam rebounded from the low levels from November – January. Exports to Canada (846 mt, -43%) were the lowest since 2016. Exports to Japan (560 mt, +4%) were the highest since last September, while exports slowed to Korea (453 mt, -25%).

American Pork & Variety Meat Export Value in February 2021

American Pork & Variety Meat Export Volume in February 2021

Exports to Colombia (413 mt, +48%) were higher, but exports slowed to Chile (306 mt, -55%) in February following large volumes between 1,065 mt and 2,580 mt from September through January. Exports to the Dominican Republic (350 mt, up from 15 mt) were the highest since 2009, and exports were also higher to Guatemala (293 mt, +13%) and Honduras (154 mt, +90% and the highest since 2019). Exports to Taiwan (191 mt, -31%) were up from 112 mt in January but were below year-ago levels for the fourth month.

January – February pork and pork variety meat exports totaled 487,896 mt, down 11% or -58,800 mt and the lowest since last July. Exports were higher to Central America (+6,900 mt), ASEAN (+4,300 mt), the Caribbean + DR (+3,200 mt), and South America (+830 mt), while exports were lower to China/HK (-48,600 mt), Mexico (-11,300 mt), Australia/NZ (-5,200 mt), Korea (-3,650 mt), Japan (-2,760 mt), Canada (-1,350 mt), Taiwan (-630 mt), Africa (-180 mt), EU 27 + UK (-40 mt), surrounding Russia region (-14 mt).

February pork exports accounted for 26.9% of pork production and 29.4% when including variety meats as compared to 29.9% and 32.9% for February 2020. January – February pork exports accounted for 26% of production and 28.6% when including variety meats, compared to 28.6% and 31.3% for January – February 2020.

February 2021 pork export value per head averaged $60.34/head, down $7.43/head or -11% from $67.77/head in February 2020. January – February 2021 pork export value per head averaged $58.68/head, down $6.34/head or -10% from $65.02/head for January – February 2020.

SOURCE: USMEF