Monthly U.S. Pork & Variety Meat Export Volume in January 2024

Pork Highlights

January 2024:

Pork: 201,071 mt, +6%; $573 million, +7.5%
PVM: 50,353 mt, +7% and the highest since May 2023; $109 million, -1%
Pork + PVM: 251,424 mt, +6%; $682 million, +6%

January pork muscle cut exports totaled 201,071 mt, up 6% or +11,496 mt from last year. Exports were higher to Aus/NZ (+7,070 mt), Korea (+6,500 mt), Mexico (+4,820 mt), South America (+3,250 mt), Central America (+1,340 mt), Caribbean + DR (+470 mt), Taiwan (+420 mt), and EU27 + UK (+30 mt), while exports were lower to China/HK (-9,970 mt), Canada (-1,890 mt), Japan (-190 mt), and ASEAN (-170 mt). Exports to Mexico (87,400 mt, +6%) were the second highest level on record, only behind the record total posted in December. Exports to Canada (15,040 mt, -11%) were the lowest level since July. Exports to Japan (27,770 mt, -1%) were slightly below year-ago levels, but were the highest level since August, and exports to Korea (19,660 mt, +49%) were higher year-over-year. Combined exports to China/HK totaled 8,870 mt, less than half the volume posted last January and the lowest level since January 2019. Exports to both China (8,280 mt, -54%) and Hong Kong (590 mt, -24%) were below year-ago levels. Exports to Taiwan (560 mt, +286%) were higher year-over-year. Exports to Malaysia (450 mt, +883%) were the eighth highest level on record and exports to Vietnam (170 mt, +6%) were also above year-ago levels, while exports to the Philippines (1,110 mt, -30%), Singapore (140 mt, -43%) and Indonesia (20 mt, -50%) were lower year-over-year. Overall, exports to the ASEAN (1,900 mt, -8%) were below year-ago levels. Exports to Central America (10,530 mt, +15%) were higher year-over-year with exports to El Salvador (1,570 mt, +44%) the second highest level on record and exports also above year-ago levels to Guatemala (2,170 mt, +9%), Costa Rica (1,360 mt, +30%), Nicaragua (1,060 mt, +100%), and Panama (790 mt, +165%), while exports to Honduras (3,560 mt, -16%) were lower year-over-year. Exports to Colombia (9,490 mt, +49%) and Chile (660 mt, +24%) were above year-ago levels, while exports to Peru (70 mt, -19.5%) were below year-ago levels. Overall, exports to South America (10,310 mt, +46%) were higher year-over-year. Exports to the Caribbean + DR (9,320 mt, +5%) were above year-ago levels with exports higher year-over-year to Cuba (560 mt, up from 20 mt), the Leeward-Windward Islands (210 mt, +4%), Netherlands Antilles (210 mt, +39%), Trinidad and Tobago (190 mt, +13%), and the Cayman Islands (90 mt, +17.5%), while exports were lower year-over-year to the Dominican Republic (7,550 mt, -2%) and the Bahamas (330 mt, -14%). Combined exports to Aus/NZ totaled 9,270 mt (+322%) with both exports to Australia (8,650 mt, +365%) and New Zealand (620 mt, +84%) above year-ago levels. Exports to EU27 + UK (100 mt, +37%) were higher year-over-year, but the lowest level since July.

January pork variety meat exports totaled 50,353 mt, up 7% or +3,161 mt from last year. Exports were higher to Canada (+820 mt), Central America (+780 mt), South America (+740 mt), Korea (+650 mt), Mexico (+560 mt), ASEAN (+490 mt), and Taiwan (+10 mt), while exports were lower to China/HK (-900 mt), Caribbean + DR (-110 mt), and Japan (-70 mt). Exports to Mexico (14,780 mt, +4%) were the highest level since October 2014 and exports to Canada (1,850 mt, +79%) were also higher year-over-year. Exports to Korea (1,070 mt, +157%) and Taiwan (120 mt, +6%) were above year-ago levels, while exports to Japan (450 mt, -14%) were below year-ago levels, but the highest level since August.

Exports to China (26,590 mt, -3%) were slightly below year-ago levels. There were no reported exports to Hong Kong. Exports to the ASEAN (2,090 mt, +31%) were the highest level since July, led by higher year-over-year exports to the Philippines (1,940 mt, +31%), while exports were lower year-over-year to Vietnam (100 mt, -15%). Exports to Central America (1,320 mt, +142%) were the highest level on record with exports to Panama (500 mt, up from 10 mt) the highest level since February 2013 and the second highest level on record, exports to Guatemala (450 mt, +95%) the highest level since August 2022 and the sixth highest level on record, and exports to Honduras (280 mt, +38.5%) the fourth highest level on record. Exports to Colombia (960 mt, +216%) were the third highest level on record, bringing exports to South America (1,160 mt, +180%) above year-ago levels. Exports to the Caribbean + DR (470 mt, -19%) were below year-ago levels, but the highest level since July, with exports to Haiti (130 mt, up from 0 mt), the Leeward-Windward Islands (90 mt, +93%), and Trinidad and Tobago (70 mt, +344%) above year-ago levels, while exports to the Dominican Republic (120 mt, -76%) were lower year-over-year.

January 2024 pork exports accounted for 24.3% of pork production and 28.3% when including variety meats, compared to 23.4% and 27.2% for January 2023.

January 2024 pork export value per head averaged $60.00/head, up $2.19/head or +4% from $57.81/head in January 2023.

SOURCE: USMEF