PORK HIGHLIGHTS
MAY 2022:

Pork:183,842 mt, -21%; $553 million, -20%
PVM:40,835 mt, -18%; $103 million, -18%
Pork + PVM: 224,677 mt, -21%, $655 million, -19%

JANUARY – MAY 2022:

Pork: 884,385 mt, -18%, $2.494 billion, -20%
PVM: 183,096 mt, -16%, $474 million, -7%
Pork + PVM: 1.067 million mt, -20%, $2.968 billion, -18%

May pork muscle cut exports were 183,842 mt, down 21% or -49,800 mt from last year, but exports were the second highest since November after the March total of 184,031 mt (and May exports were 7% above May 2019 levels). Exports were higher to Mexico (+7,700 mt), Caribbean + DR (+4,720 mt), and Taiwan (+20 mt). Exports were lower than last year to China/HK (-40,700 mt), ASEAN (-6,750 mt), Japan (-4,400 mt), Canada (-3,200 mt), South America (-2,100 mt), Australia/NZ (-2,000 mt), Central America (-1,700 mt), Korea (-1,300 mt), and EU 27 + UK (-10 mt). Exports to Mexico (69,446 mt, +12%) maintained the record pace with May exports reaching the sixth highest monthly volume on record. Exports to Japan (31,282 mt, -12%) slowed from April. Exports to Korea (16,181 mt, -8%) were the highest since last May. Combined exports to China/HK totaled 15,500 mt, -72%. Exports to China (15,141 mt, -73%) remained down significantly from last year but were the highest since October, while exports to Hong Kong (359 mt, -67%) slowed further in May. Exports to Canada (13,689 mt, -19%) were below year-ago levels for the fifth consecutive month. Exports to Colombia (9,324 mt, +17%) remained strong and were over 9,000 mt for the second consecutive month in May, but exports to Chile (452 mt, -86%) and Peru (87 mt, -86%) slowed further in May. Exports to the Dominican Republic (8,347 mt, +122%) were the second highest after the April record of 8,733 mt. Exports were higher to El Salvador (1,089 mt, +6%) and Panama (986 mt, +7%) but lower to Honduras (3,812 mt, -16%), Guatemala (1,315 mt, -28%), Nicaragua (671 mt, -21%), and Costa Rica (565 mt, -39%). Exports to the Philippines (2,911 mt, -69%) rebounded to the highest level since last July, exports to Vietnam (612 mt, -30%) were the highest since last May, and exports to Singapore (318 mt, -5%) were the highest since last June. Although exports to Australia (4,633 mt, -17%) were lower than year-ago levels for the 10th consecutive month in May, volumes rebounded to the highest level since last June. Exports to New Zealand (311 mt, -77%) remained lower, following the slowdown since the second half of last year. Exports to the Bahamas (542 mt, +12%) were the highest since December 2020. Exports to Taiwan (325 mt, +6%) were the highest since July.

May pork variety meat exports totaled 40,735 mt, down 18% or -9,100 mt from last year but up 19% from April and the highest since October. Pork variety meat exports were higher than last year to Mexico (+810 mt), Korea (+350 mt), Caribbean + DR (+220 mt), ASEAN (+190 mt), and Japan (+140 mt), while exports were lower to China/HK (-9,700 mt), South America (-320 mt), Central America (-150 mt), and Canada (-70 mt). Combined exports to China/HK totaled 24,204 mt, down 29% from last year but the highest since October. Exports just to China (24,159 mt, -28%) were the highest since October, while exports to Hong Kong (45 mt, -70%) have been minimal since last year. Exports to Mexico (10,403 mt, +8%) were up 43% from April and reached the highest level since last September.

American Pork & Variety Meat Export Value in May 2022

American Pork & Variety Meat Export Volume in May 2022

Exports to the Philippines (1,457 mt, +33%) remained strong in May. Exports to Canada (1,136 mt, -5%) slowed to the lowest level since September. Exports to Japan (951 mt, +18%) were higher year-over-year for the 13th consecutive month. Exports to Korea (821 mt, +75%) were the second highest since March 2021 after the large total in March of this year (1,218 mt). Exports were higher to Colombia (386 mt, +28%) but remained below year-ago levels to Chile (148 mt, -75%). Exports were lower to both Guatemala (302 mt, -10%) and Honduras (116 mt, -26%), while exports were higher to the DR (170 mt, up from 0 mt last May). Exports to Taiwan (240 mt, -34%) were the highest since last May (and following minimal volumes from September 2021 – April 2022).

January – May pork + pork variety meat exports totaled 1.067 million mt, down 20% or -269,000 mt from last year. Exports were higher to Mexico (+71,000 mt) and the Caribbean + DR (+10,600 mt), while exports were lower to China/HK (-229,500 mt), ASEAN (-38,400 mt), Australia/NZ (-23,700 mt), Japan (-16,000 mt), Canada (-14,100 mt), South America (-13,700 mt), Central America (-7,400 mt), Korea (-5,200 mt), Taiwan (-1,700 mt), and EU 27 + UK (-140 mt).

May pork exports accounted for 25.2% of pork production and 28.6% when including variety meats, the highest since July 2021 and compared to 33.8% and 38.1% for May 2021. January – May pork exports accounted for 23.4% of production and 26.3% when including variety meats, compared to 27.8% and 31.1% for January – May 2021.

May 2022 pork export value per head averaged $65.27/head, down $19.01/head or -23% from $84.28/head in May 2021. January – May 2022 pork export value per head averaged $57.38/head, down $8.93/head or -14% from $66.31/head for January – May 2021.

SOURCE: USMEF