Pork Highlights
February 2022:

Pork: 164,351 mt, -19%, $452 million, -18%
PVM: 34,188 mt, -4%, $90 million, +10%
Pork + PVM: 198,539 mt, -17%, $541 million, -14%

January – February 2022:

Pork: 338,038 mt, -18%, $914 million, -17%
PVM: 63,309 mt, -9%, $183 million, +6%
Pork + PVM: 407,347 mt, -17%, $1.097 billion, -14%

February pork muscle cut exports totaled 164,351 mt, down 19% or -39,200 mt from last year and the lowest since 2019. Muscle cut exports were higher to Mexico (+17,500 mt) and Japan (+400 mt) but were lower to China/HK (-36,600 mt), ASEAN (-5,100 mt), Aus/NZ (-5,000 mt), Canada (-3,900 mt), South America (-3,800 mt), Central America (-1,300 mt), Korea (-540 mt), Taiwan (-290 mt), and Caribbean + DR (-230 mt). Pork muscle cut exports to Mexico (65,011 mt, +37%) slowed from the record of 78,538 mt in January but maintained the momentum that picked up last August with exports by far the largest for the month of February (up 22.5% from the previous high in Feb 2017). Exports to Japan (31,552 mt, +1%) were the highest since November and were slightly higher than last year. Exports to Canada (13,492 mt, -23%) were below 14,000 mt for the second consecutive month in February, the lowest since May 2020. Combined exports to China/HK totaled 13,544 mt, down 73% from last year and down 82% from 2020 but up 24% from 2019. Exports to China (12,717 mt, -74%) were the lowest since February 2019, but exports Hong Kong (827 mt, -25%) were the highest since last June. Exports were lower year-over-year to Korea (12,648 mt, -4%). Exports slowed to South America: Colombia (6,626 mt, -25%), Chile (682 mt, -70%) and Peru (242 mt, -18%). Exports to the DR (5,167 mt, -3%) were slightly below last year, but volumes were above 5,000 mt for the third consecutive month. To Central America, exports were lower year-over-year to most destinations including Honduras (3,244 mt, -13%), Guatemala (1,960 mt, -18%), El Salvador (1,193 mt, -8%), and Costa Rica (673 mt, -46%), but exports were higher to Panama (1,010 mt, +9%) and Nicaragua (641 mt, +48%). Exports to Australia (3,123 mt, -57%) were down sharply year-over-year but were the highest since October, and exports to New Zealand (302 mt, -72%) started to rebound from January’s low level. Exports to the Philippines (1,402 mt, -75%) were the highest since Octoebr but remain significantly off the record volumes in the first half of last year. Volumes were also lower to Singapore (105 mt, -50%) and Vietnam (44 mt, -94%), but exports to Vietnam were the highest since November. Exports to Taiwan (86 mt, -77%) remained sluggish.

February pork variety meat exports totaled 34,188 mt, down 4% or -1,530 mt from last year and the lowest since July 2020. February pork variety meat exports were higher year-over-year to Canada (+640 mt), Japan (+600 mt), and Central America (+90 mt), while exports were lower to China/HK (-1,400 mt), Mexico (-600 mt), Caribbean + DR (-410 mt), South America (-230 mt), Korea (-60 mt), and ASEAN (-40 mt). Combined exports to China/HK totaled 19,420 mt, down 7% from last year and down 22% from 2020 but up 16% from 2019. Exports to China (19,395 mt, -6%) were the lowest since July 2020, and exports to Hong Kong slowed to just 25 mt, down 92% from 321 mt last year (and down from 120 mt in January) and a new monthly low. Exports to Mexico (8,928 mt, -6%) were lower year-over-year but were the highest since November, and exports were higher to Canada (1,484 mt, +75%).

American Pork & Variety Meat Export Value in February 2022

American Pork & Variety Meat Export Volume in February 2022

Exports were slightly higher than last year to the Philippines (1,188 mt, +2%), and although exports to Vietnam (47 mt, -56%) were lower year-over-year, they were the highest since July. Exports to Japan (1,160 mt, +107%) were the highest since June 2019. Exports to Colombia (486 mt, +18%) were the highest since 2020, but exports to Chile (85 mt, -72%) have been lower year-over-year since last July. Exports to Korea (396 mt, -13%) were the lowest since September. Exports were higher to Guatemala (349 mt, +19%) and Costa Rica (120 mt, up from 0 mt last year) but were lower to Honduras (98 mt, -36%).

January – February combined pork and pork variety meat exports totaled 407,347 mt, down 17% or -80,550 mt from last year. Compared to last year, exports were higher to Mexico (+40,100 mt), and Caribbean + DR (+470 mt), while exports were lower to China/HK (-78,800 mt), Aus/NZ (-10,700 mt), ASEAN (-8,200 mt), South America (-7,700 mt), Canada (-6,000 mt), Japan (-4,900 mt), Central America (-2,900 mt), Taiwan (-870 mt), and Korea (-740 mt).

February pork exports accounted for 22.7% of pork production and 25.5% when including variety meats as compared to 26.9% and 29.4% for February 2021. January – February pork exports accounted for 22.7% of production and 25.5% when including variety meats, compared to 24% and 26.8% for January – February 2021.

February 2022 pork export value per head averaged $54.44/head, down $5.92/head or -10% from $60.35/head in February 2021. January – February 2022 pork export value per head averaged $53.89/head, down $1.98/head or -3.5% from $55.87/head for January – February 2021.

SOURCE: USMEF