PORK HIGHLIGHTS
November 2022:

Pork: 195,661 mt, -1% and the highest since November 2021; $608 million, +8% and the highest since May 2021
PVM: 50,002 mt, +25.5%; $117 million, +21% and the fourth highest ever recorded
Pork + PVM: 245,663 mt, +3% and the highest since May 2021, $725 million, +10% and the highest since May 2021

JANUARY – November 2022:

Pork: 1.951 million mt, -12%, $5.841 billion, -8%
PVM: 476,234 mt, -2%, $1.148 billion, 0%
Pork + PVM: 2.427 million mt, -10%, $6.990 billion, -7%

November pork muscle cut exports totaled 195,661 mt, down 1% or -2,046 mt from last year. Exports were higher to China/HK (+5,550 mt), Caribbean + DR (+4,450 mt), Korea (+1,170 mt), ASEAN (+960 mt), Canada (+480 mt), and Taiwan (+410 mt), while exports were lower to South America (-6,910 mt), Japan (-5,600 mt), Central America (-1,540 mt), Mexico (-800 mt), Aus/NZ (-440 mt), and EU27 + UK (-30 mt). Exports to Mexico (76,950 mt, -1%) were slightly below last year’s record high in November, but year-to-date exports surpassed last year’s record volume. Combined exports to China/HK totaled 20,700 mt, up 37% and resulted in the highest volume since May 2021. Exports to both China (20,040 mt, +38%) and Hong Kong (660, +3%) were higher year-over-year. Exports to China were the second highest since June 2021 after August 2022. Exports to the Philippines (1,680 mt, +123%) and Singapore (300 mt, +21%) were higher year-over- year, bringing the ASEAN region (2,130 mt) 83% above year-ago levels in November. Exports to Taiwan (490 mt, +530%) reached the highest level since July 2021, while exports to Japan (26,440 mt, -17%) reached the second lowest level this year. Exports to Central America (11,740 mt, -12%) were lower year-over-year, but reached the highest volume so far this year; exports were higher than last year to Guatemala (2,720 mt, 19% and the highest since October 2021) and Costa Rica (1,310 mt, +16%), while exports to most other destinations in Central America were lower than last year: Honduras (4,790 mt, -11% but second highest this year), Nicaragua (1,340 mt, -10%), El Salvador (1,030 mt, -31%), Panama (370 mt, -73% and the lowest level this year), and Belize (190 mt, -3%). Exports to the Dominican Republic (10,060 mt, +73% and significantly higher than the previous record of 8,733 mt in April), the Leeward-Windward Islands (580 mt, +8%), and Bermuda (80 mt, +51%) reached the highest volume ever recorded, resulting in the Caribbean + DR (12,010 mt, +59%) reaching the highest volume ever recorded in November. Exports were also higher year-over-year to the Bahamas (510 mt, +29%), and the Netherlands Antilles (370 mt, +5% and the highest since October 2021). Exports to Colombia (7,700 mt, -44%), Chile (1,030 mt, -42%) and Peru (80 mt, -63% and the lowest volume this year) were lower year-over-year, bringing South America (8,910 mt, -44%) totals below year-ago levels. Year-to-date exports to Colombia dropped 5% below year-ago levels through November, as exports were up against record volumes for October and November 2021. Exports to Canada (19,300 mt, +3%) were higher year-over-year for the first time this year and were the highest since September 2021. Exports to Korea (14,190 mt, +9%) were above year-ago levels, while exports to Australia (1,750 mt, -15%), New Zealand (310 mt, -30%), and EU27 + UK (90 mt, -24%) were below year-ago levels.

November pork variety meat exports totaled 50,002 mt, +25.5% or +10,162 mt from last year and the eighth highest level ever recorded. Exports were higher to China/HK (+9,740 mt), Mexico (+1,170 mt), ASEAN (+330 mt), and South America (+40 mt), while exports were lower to Canada (-640 mt), Korea (-360 mt), Japan (-220 mt), Central America (-100 mt), and Caribbean + DR (-60 mt).

American Pork & Variety Meat Export Value in November 2022

American Pork & Variety Meat Export Volume in November 2022

Exports to China (33,710 mt, +41%) were the fourth highest on record following October 2022, August 2022, and May 2021, while exports were lower year-over-year to Hong Kong (20 mt, -76%). Exports to the Philippines (1,520 mt, +24%) were higher year-over-year, while exports to Japan (600 mt, -27% and the lowest level this year) and Korea (450 mt, -44%) were below year-ago levels. Exports to Mexico (10,860 mt, +12%), Colombia (580 mt, +47%), and Honduras (220 mt, +16%) were higher year-over-year, while exports to Guatemala (220 mt, -26%) and the Dominican Republic (170 mt, -22%) were lower year-over-year. Exports to Chile (100 mt, -56%) were below year-ago levels for the eleventh consecutive month and exports to Canada (750 mt, -46%) were the lowest level since January 2016.

January – November pork muscle cut and variety meat exports totaled 2.427 million mt, down 10% or -279,098 mt from last year. Exports were higher to Mexico (+74,930 mt), the Caribbean + DR (+23,980 mt), and Korea (+7,830 mt), while exports were lower to China/HK (-214,550 mt), ASEAN (-38,090 mt), Aus/NZ (-31,540 mt), Japan (-30,840), South America (-24,470 mt), Canada (-23,380 mt), Central America (-20,760 mt), Taiwan (-1,100 mt), and EU27 + UK (-890 mt).

November pork exports accounted for 24.9% of pork production and 29.0% when including variety meats, compared to 24.6% and 27.4% for November 2021. January – November pork exports accounted for 23.6% of production and 27.2% when including variety meats, compared to 25.9% and 29.4% for January – November 2021.

November 2022 pork export value per head averaged $66.43/head, up $7.32/head or +12% from $59.11/head in November 2021. January – November 2022 pork export value per head averaged $60.77/head, down $2.37/head or -4% from $63.14/head for January – November 2021.

SOURCE: USMEF