Pork Highlights
March 2022:

Pork: 184,031 mt, -26%, $516.5 million, -25%
PVM: 38,550 mt, -18%, $99 million, -7%
Pork + PVM: 222,581 mt, -24.5%, $615 million, -23%

January – March 2022:

Pork: 552,069, -21%, $1.430 billion, -20%
PVM: 107,859 mt, -12%, $282 million, +1%
Pork + PVM: 629,928 mt, -19.5%, $1.712 billion, -17%

March pork muscle cut exports totaled 184,031 mt, the highest since November but down 26% or -63,600 mt from last year (when exports were record large). March exports were higher than last year to Mexico (+18,200 mt), Caribbean + DR (+640 mt), and Taiwan (+10 mt), while exports were lower to China/HK (-46,400 mt), ASEAN (-10,300 mt), Japan (-9,200 mt), Aus/NZ (-5,950 mt), South America (-3,500 mt), Canada (-2,400 mt), Central America (-2,300 mt), Korea (-2,200 mt), and EU 27 + UK (-80 mt). Exports to Mexico (73,555 mt, +33%) remained strong and reached the fourth highest monthly volume on record after Jan 2022, Nov 2021, and Oct 2021. Exports to Japan (31,292 mt, -23%) were down less than 1% from February but were down sharply compared to last year’s large total. Exports to Canada (17,154 mt, -12%) were the highest since November. Exports to Korea (13,959 mt, -14%) were up 10% from February but were lower year-over-year for the third consecutive month. Combined exports to China/HK totaled 13,876 mt, up 2.5% from February but down 77% from last year. Exports to China (13,244 mt, -78%) were up 4% from February, but exports to Hong Kong (632 mt, -42%) slowed further in March. Exports to Colombia (7,534 mt, -20%) were the highest since December but were lower than last year, while exports to Chile (826 mt, -61%) have slowed significantly since December (although March exports to Chile did increase by 21% from February). Exports to the Dominican Republic (6,796 mt, +7%) set a new record in March, and exports also increased to the Bahamas (481 mt, +27%). Exports to Honduras (5,296 mt, +3%) reached the second highest monthly total after November 2021, while exports to the other Central American markets were lower than last year: Guatemala (2,190 mt, -22%), El Salvador (1,104 mt, -26%), Nicaragua (994 mt, -42%), Panama (821 mt, -1%), and Costa Rica (731 mt, -49%). Exports to Australia (2,653 mt, -66%) and New Zealand (458 mt, -66%) continued to be sluggish in March. Exports to the ASEAN region were down from last year but started to rebound in March: Philippines (1,511 mt, -87% and the highest since October) Vietnam (359 mt, -39% and the highest since June), and Singapore (321 mt, +29% and the highest since June). Exports to Taiwan (268 mt, +2%) were the highest since July but remained significantly lower than levels prior to 2021.

March pork variety meat exports totaled 38,550 mt, the highest since November but down 18% or -8,500 mt from last year. Compared to last year, March pork variety meat exports were higher to Japan (+610 mt), Canada (+590 mt), Korea (+330 mt), and Aus/NZ (+80 mt), while exports were lower to China/HK (-7,000 mt), Mexico (-2,000 mt), ASEAN (-790 mt), Taiwan (-80 mt), Central America (-40 mt), Caribbean + DR (-20 mt) and South America (-20 mt). Combined exports to China/HK totaled 21,990 mt, down 24% from last year. Exports for March were entirely to China (21,990 mt, -23%) with no exports reported for Hong Kong (down from 334 mt last year). Pork variety meat exports to Mexico (8,793 mt, -19%) were lower than the previous year for the fourth consecutive month.

American Pork & Variety Meat Export Value in March 2022

American Pork & Variety Meat Export Volume in February 2022

Exports to Canada (1,693 mt, +53%) were the highest since 2020, and exports to Korea (1,218 mt, +37%) were the highest since 2019. Exports to Japan (868 mt, +235%) were down from Jan – Feb levels (940 mt and 1,160 mt) but were otherwise the highest since June 2019. Exports to the Philippines (1,563 mt, -26%) rebounded to the highest level since October, and exports to Vietnam (94 mt, -68%) were the highest since June, although both remained lower year-over-year. Exports to Colombia (684 mt, +91%) were the highest since November 2020 and the fifth highest monthly volume on record. Exports to Guatemala (465 mt, +18%) were the highest since December 2019 and reached the third highest volume on record, and exports to Honduras (191 mt, +19%) were also higher.

January – March combined pork muscle cut and variety meat exports totaled 629,928 mt, down 19.5% from last year or -153,000 mt from last year. Exports were higher than last year to Mexico (+56,300 mt) and the Caribbean + DR (+1,100 mt), but exports were lower to China/HK (-132,200 mt), ASEAN (-19,200 mt), Australia/NZ (-16,500 mt), Japan (-13,500 mt), South America (-11,300 mt), Canada (-7,800 mt), Central America (-5,200 mt), Korea (-2,650 mt), Taiwan (-940 mt), and EU27 + UK (-160 mt).

March pork exports accounted for 22.4% of pork production and 25.2% when including variety meats as compared to 29.1% and 32.2% for March 2021. January – March pork exports accounted for 22.6% of production and 25.4% when including variety meats, compared to 25.8% and 28.7% for January – March 2021.

March 2022 pork export value per head averaged $54.70/head, down $13.02/head or -19% from $67.71/head in March 2021. January – March 2022 pork export value per head averaged $54.18/head, down $5.91/head or -10% from $60.09/head for January – March 2021.

SOURCE: USMEF