PORK HIGHLIGHTS
August 2022:

Pork:173,335 mt, -3%; $541 million, +2%
PVM:52,958 mt, +14%; $118 million, +12%
Pork + PVM: 226,293 mt, +0.2%, $660 million, +4%

JANUARY – August 2022:

Pork: 1.398 million mt, -16%, $4.103 billion, -14%
PVM: 322,759 mt, -11%, $799 million, -6%
Pork + PVM: 1.721 million mt, -15%, $4.902 billion, -13%

August pork muscle cut exports totaled 173,335 mt, down 3% or -6,030 mt from last year. Exports were higher to Korea (+3,360 mt), ASEAN (+1,860 mt), Mexico (+1,530 mt), China/HK (+1,390 mt), and Taiwan (+50 mt), while exports were lower to Japan (-6,170 mt), Central America (-3,280 mt), Aus/NZ (-2,010 mt), South America (-1,420 mt), Canada (-1,050 mt), EU 27 + UK (-260 mt), and Caribbean + DR (-30 mt). Mexico stays on a record pace in August with exports totaling 70,480 mt (+2%), the sixth highest on record after January 2022, November 2021, October 2021, March 2022, and December 2021. Exports to Japan (26,060 mt, -19%) slowed to the lowest level since June 2020 and exports to Canada (14,010 mt, -7%) were below year-ago levels for the eighth consecutive month. Exports to Korea (12,770 mt, +36%) were the lowest since February, but were higher year-over-year. Combined exports to China/HK totaled 20,864 mt, up 7% and resulting in the highest export volume since June 2021. Exports to China (20,200 mt, +8%) were the highest since May 2021, while exports to Hong Kong (670 mt, -18%) were lower. Export to destinations in South America trended lower year-over-year: Chile (840 mt, -47%), Colombia (7,640 mt, -8%), and Peru (160 mt, -21%). Exports to the Bahamas (370 mt, +1%), the Leeward-Windward Islands (190 mt, +6%), and the Cayman Islands (70 mt, +132%) were higher year-over-year, while export to the Dominican Republic (4,790 mt, -1%) slowed and exports to Trinidad and Tobago (170 mt, -16%) were at the lowest level since February. Exports to New Zealand (310 mt, -52%) slowed and exports to Australia (1,930 mt, -46%) were at the lowest level since December. Exports to the Philippines (4,380 mt, +57%) were the highest since June 2021, while exports were also higher to Singapore (260 mt, +17%) and Vietnam (220 mt, +193%). Exports were higher than last year to El Salvador (890 mt, +28%), but were lower to other destinations in Central America: Honduras (3,010 mt, -25%), Guatemala (1,150 mt, -51%), Panama (720 mt, -42%), Nicaragua (550 mt, -26%), and Costa Rica (150 mt, -79%). Exports to Taiwan (200 mt, +32%) were higher year-over-year.

August pork variety meat exports totaled 52,958  mt, +14% or +6,500 mt from last year and the third highest since October 2008 and December 2016. Exports were higher to China/HK (+5,400 mt), Taiwan (+350 mt), Central America (+330 mt), Japan (+330 mt), Korea (+330 mt), ASEAN (+270 mt), South America (+210 mt), Caribbean + DR (+150 mt), and Canada (+110 mt), while exports were lower to Mexico (-1,130 mt). Exports to China (34,760 mt, +19%) were the highest on record, while exports were lower to Hong Kong (70 mt, -46%). Exports to Mexico (10,700 mt, -10%) were lower year-over-year, but were the highest since last October.

American Pork & Variety Meat Export Value in August 2022

American Pork & Variety Meat Export Volume in August 2022

Exports were higher to the Philippines (1,330 mt, +13%), Canada (1,120 mt, +10%), Japan (940 mt, +53%), and Korea (800 mt, +71%). Exports to Colombia (970 mt, +118%) and Guatemala (620 mt, +87%) were the highest on record, while exports were also higher to Honduras (220 mt, +11%) and the Dominican Republic (160 mt, +500%). Exports to Taiwan (470 mt, +298%) were the highest since March 2020.

January – August pork muscle cut and variety meat exports totaled 1.721 million mt, down 15% or 301,720 mt from last year. Exports were higher to Mexico (+77,170 mt), the Caribbean + DR (+15,790 mt) and Korea (+1,010 mt), while exports were lower to China/HK (-250,550 mt), ASEAN (-40,740 mt), Aus/NZ (-29,260 mt), Japan (-26,590 mt), Canada (-20,520 mt), Central America (-12,810 mt), South America (-12,180 mt), Taiwan (-2,000 mt), and EU 27 + UK (-580 mt).

August pork exports accounted for 22.5% of pork production and 27.3% when including variety meats, compared to 24.3% and 28.3% for August 2021. January – August pork exports accounted for 23.5% of production and 26.9% when including variety meats, compared to 26.8% and 30.4% for January – August 2021.

August 2022 pork export value per head averaged $60.04/head, up $0.30/head or +0.5% from $59.74/head in August 2021. January – August 2022 pork export value per head averaged $59.40/head, down $6.07/head or -9% from $65.47/head for January – August 2021.

SOURCE: USMEF