Pork Highlights
August 2023:

Pork: 179,443 mt, +3.5%; $542 million, steady
PVM: 47,076 mt, -11%; $108 million, -9%
Pork + PVM: 226,519 mt, steady; $649 million, -1.5%

January – August 2023:

Pork: 1.521 million mt, +9%, $4.404 billion, +7%
PVM: 392,146 mt, +21.5%; $921 million, +15%
Pork + PVM: 1.913 million mt, +11%; $5.324 billion, +9%

August pork muscle cut exports totaled 179,443 mt up 3.5% or +6,108 mt from last year. Exports were higher to Mexico (+6,550 mt), Aus/NZ (+4,160 mt), Canada (+2,850 mt), Japan (+1,910 mt), Caribbean + DR (+1,610 mt), Central America (+1,560 mt), Taiwan (+700 mt), and EU27 + UK (+110 mt), while exports were lower to China/HK (-8,810 mt), Korea (-1,930 mt), ASEAN (-1,860 mt), and South America (-880 mt). Exports to Mexico (77,030 mt, +9%) and Canada (16,860 mt, +20%) were above year-ago levels for the eighth consecutive month this year. Japan and Korea were able to pick up some momentum this month compared to last month, with Japan (27,970 mt, +7%) being higher year-over-year, but Korea (10,840 mt, -15%) still being below year-ago levels and when excluding last month’s low total, was the lowest level since October 2021. Combined exports to China/HK totaled 12,060 mt and were the lowest level since February 2019, with exports to both China (11,460 mt, -43%) and Hong Kong (600 mt, -11%) below year-ago levels. Exports to Taiwan (900 mt, +342%) have continued to be above year-ago levels throughout 2023. Exports to Malaysia (500 mt, +479%) were the fourth highest on record and exports to Vietnam (240 mt, +9%) were also higher year-over-year, while exports to the Philippines (2,170 mt, -50%) and Singapore (170 mt, -35%) were below year-ago levels. Overall, exports to the ASEAN (3,150 mt, -37%) in August were one of two months this year that have been lower year-over-year. Exports to the Caribbean + DR (7,570 mt, +27%) were above year-ago levels driven by higher year-over-year exports to the Dominican Republic (6,010 mt, +25.5%), the Bahamas (460 mt, +25%), and Trinidad and Tobago (320 mt, +87%). Exports to Panama (610 mt, -16%) were lower year-over-year, while exports were above year-ago levels to Honduras (3,170 mt, +6%), Guatemala (1,860 mt, +61%), El Salvador (1,140 mt, +28%), Nicaragua (740 mt, +34%), and Costa Rica (540 mt, +257%), resulting in exports to Central America (8,100 mt, +24%) higher year-over-year, but the lowest level since September 2022. Exports were below year-ago levels to Colombia (6,970 mt, -9%), Chile (640 mt, -23% and the lowest level since January), and Peru (160 mt, -2%), resulting in exports to South America (7,860 mt, -10%) being lower year-over-year. Combined exports to Aus/NZ totaled 6,400 mt with exports to Australia (5,040 mt, +161%) above year-ago levels and exports to New Zealand (1,360 mt, +340%) the fourth highest level on record. Exports to EU27 + UK (130 mt, +505%) were higher year-over-year.

August pork variety meat exports totaled 47,076 mt, down 11% or -5,882 mt from last year. Exports were higher to Mexico (+3,570 mt), Canada (+760 mt), ASEAN (+290 mt), Caribbean + DR (+110 mt), and Taiwan (+3 mt), while exports were lower to China/HK (-9,190 mt), South America (-790 mt), Japan (-490 mt), Central America (-330 mt), and Korea (-190 mt). Exports to Mexico (14,270 mt, +33%) were the highest level since October 2014 and exports to Canada (1,880 mt, +67%) were the highest level since July 2020. Exports to China/HK (25,640 mt, -26%) were the lowest level since May 2022 with no reported exports to Hong Kong. Exports to Korea (610 mt, -23%) and Japan (450 mt, -52%) were lower year-over-year.

Exports to the Philippines (1,490 mt, +11%) and Vietnam (280 mt, +131%) were above year-ago levels, resulting in exports to the ASEAN (1,770 mt, +20%) higher year-over-year, but the lowest level since January. Exports to Taiwan (470 mt, +1%) were at the highest level since March 2020. Exports to Central America (630 mt, -34%) were the lowest level this year with exports lower year-over-year to Guatemala (370 mt, -41%) and Honduras (100 mt, -55%), but higher year-over-year to El Salvador (80 mt, +280%) and Panama (80 mt, +58%). Exports to Colombia (250 mt, -74%) were the lowest level since January 2022 and exports were also below year-ago levels to Chile (30 mt, -12.5%), resulting in exports to South America (300 mt, -72%) lower year-over-year (compared to a large total last August) and the lowest level since January 2022. Exports to the Caribbean + DR (370 mt, +43%) were higher year-over-year, but the lowest level since November 2022, with exports to the Dominican Republic (200 mt, +31%), Leeward-Windward Islands (80 mt, +39%) and Trinidad and Tobago (50 mt, up from 0 mt) above year-ago levels.

January – August pork muscle cut + pork variety meat exports totaled 1.913 million mt up 11% or +192,338 mt from last year. Exports were higher to Mexico (+84,590 mt), China/HK (+29,820 mt), Auz/NZ (+23,720 mt), Canada (+15,750 mt), Caribbean + DR (+15,640 mt), ASEAN (+13,180 mt), Taiwan (+11,380 mt), Central America (+4,930 mt), Korea (+4,520 mt), and EU27 + UK (+70 mt), while exports were lower to Japan (-4,240 mt) and South America (-8,360 mt).

August pork exports accounted for 23.4% of pork production and 27.4% when including variety meats, compared to 22.5% and 27.3% for August 2022.  January – August 2023 pork exports accounted for 25.3% of production and 29.6% when including variety meats, compared to 23.5% and 26.9% for January – August 2022. 

August 2023 pork export value per head averaged $58.39/head, down $1.64/head or -3% from $60.04/head in August 2022.  January – August 2023 pork export value per head averaged $63.32/head, up $3.91/head or +7% from $59.40/head for January – August 2022.

SOURCE: USMEF