PORK HIGHLIGHTS
DecEMBER 2023:

Pork: 219,506 mt, +15% and the highest since May 2021 and eighth highest on record; $654 million, +16%, the highest since May 2021 and the fifth highest on record
PVM: 48,893 mt, -10%; $112 million, -10%
Pork + PVM: 268,399 mt, +9.5% and the highest since May 2021 and eighth highest on record; $766 million, +11%, the highest since May 2021 and third highest on record

January – December 2023:

Pork: 2.321 million mt, +8% and third highest on record, $6.791 billion, +6% and second highest on record
PVM: 585,806 mt, +8.5% and a new record; $1.369 billion, +7% and a new record
Pork + PVM: 2.907 million mt, +8% and third highest on record; $8.159 billion, +6% and a new record

December pork muscle cut exports totaled 219,506 mt, up 15% or +28,474 mt from last year, the highest since May 2021 and the eighth highest on record. Exports were higher to Mexico (+13,730 mt), Korea (+9,260 mt), Aus/NZ (+6,780 mt), Central America (+2,630 mt), Japan (+2,560 mt), South America (+2,290 mt), Canada (+890 mt), ASEAN (+310 mt), EU27 + UK (+90 mt), Caribbean + DR (+20 mt), while exports were lower to China/HK (-10,280 mt) and Taiwan (-30 mt). Exports to Mexico (92,130 mt, +17.5%) were record high, climbing 5,380 mt above the record set in October 2023. Exports to Canada (16,640 mt, +6%) were above year-ago levels. Exports to Japan (26,520 mt, +11%) were higher year-over-year and exports to Korea (23,020 mt, +67%) were the highest level since April 2019 and were the seventh highest level on record. Combined exports to China/HK totaled 10,270 mt, half the volume that was exported in December 2022, and besides November, was the lowest level since January 2019. Exports to China (9,460 mt, -53%) were below year-ago levels, while exports to Hong Kong (810 mt, +62%) were higher year-over-year. Exports to Taiwan (460 mt, -5%) were the lowest level since January. Exports to the Philippines (990 mt, -33%) were the lowest level since April 2022 and exports to Vietnam (110 mt, -8%) were the lowest level since May, while exports to Indonesia (220 mt, +182%) were the second highest level on record, exports to Malaysia (640 mt, up from 30 mt) were the third highest level on record, and exports were also higher year-over-year to Singapore (140 mt, +71%). Overall, exports to the ASEAN (2,100 mt, +17%) were above year-ago levels. Exports to Central America (17,250 mt, +17%) reached a new record in December, rising 1,930 mt above the record set in November. Exports to Belize (330 mt, +21%) set a new record, exports to Panama (6,470 mt, +21%) were the second highest level on record, exports to El Salvador (1,470 mt, +39%) and Costa Rica (1,370 mt, +141%) were the sixth highest level on record, and exports were also higher year-over-year to Guatemala (2,510 mt, +45%) and Nicaragua (1,050 mt, +44%), while exports to Honduras (4,050 mt, -17.5%) were below year-ago levels, but unable to offset the growth to other Central American markets. Exports to South America (10,500 mt, +28%) were above year-ago levels with exports to Colombia (9,320 mt, +33%) and Chile (1,110 mt, +9%) higher year-over-year, but exports to Peru (30 mt, -23%) lower year-over-year. Exports to the Caribbean + DR (10,460 mt) were slightly (+0.2%) above year-ago levels with exports to Cuba (660 mt, up from 60 mt), Haiti (130 mt, +291%), the Cayman Islands (100 mt, +14%), Barbados (70 mt, +79%), and the Turks and Caicos Islands (70 mt, +6.5%) higher year-over-year, while exports to the Dominican Republic (8,400 mt, -6.5%), the Bahamas (440 mt, -8%), the Leeward-Windward Islands (340 mt, -9%), Netherlands Antilles (170 mt, -22%), and Trinidad and Tobago (50 mt, -13%) were below year-ago levels. Combined exports to Aus/NZ totaled 9,550 mt (+245%) and were the second highest level in 2023, only behind totals in May. Exports to both Australia (9,090 mt, +251%) and New Zealand (460 mt, +157%) were higher year-over-year. Exports to EU27 + UK (160 mt, +118%) were above year-ago levels.

December pork variety meat exports totaled 48,893 mt, down 10% or -5,216 mt from last year. Exports were higher to Mexico (+1,550 mt), Canada (+1,100 mt), South America (+720 mt), Central America (+420 mt), Korea (+60 mt), and Taiwan (+50 mt), while exports were lower to China/HK (-7,890 mt), Caribbean + DR (-430 mt), Japan (-300 mt), and ASEAN (-100 mt).

American Pork & Variety Meat Export Value in December 2023
AMERICAN PORK & VARIETY MEAT EXPORT VOLUME IN December 2023

Exports to Mexico (13,320 mt, +13%) were above year-ago levels and exports to Canada (2,070 mt, +115%) were also above year-ago levels and were the highest level since July 2020. Exports to Korea (890 mt, +7%) and Taiwan (170 mt, +45%) were higher year-over-year, while exports to Japan (310 mt, -49%) were the lowest level since March 2021. Exports to China (27,870 mt, -22%) were below year-ago levels, but the highest level since June. There were no reported exports to Hong Kong. Exports to the ASEAN (1,790 mt, -5%) were lower year-over-year with exports to the Philippines (1,540 mt, -15%) below year-ago levels, while exports to Vietnam (200 mt, +175%) were higher year-over-year. Exports to Guatemala (390 mt, +49%), Honduras (190 mt, +265%), and Panama (150 mt, up from 4 mt) were above year-ago levels, while exports to El Salvador (90 mt, -19%) were lower year-over-year. Overall, exports to Central America (870 mt, +94%) were higher year-over-year. Exports to Colombia (1,000 mt, +143%) set a record and exports to Chile (130 mt, +173%) were also above year-ago levels, bringing exports to South America (1,200 mt, +151%) to the second highest level in 2023. Exports to the Caribbean + DR (180 mt, -71%) were the lowest level since February 2022.

2023 pork muscle cut + pork variety meat exports totaled 2.907 million mt, up 8% or +223,116 mt from last year and the third highest level on record, with value at a new record high. Exports to Mexico (+132,710 mt) and Caribbean + DR (+17,930 mt) were record high in 2023, and exports were also higher to Aus/NZ (+39,400 mt), Canada (+23,540 mt), Central America (+18,170 mt), Korea (+16,310 mt), Taiwan (+12,860 mt), ASEAN (+11,770 mt), South America (+2,330 mt), and EU27 + UK (+480 mt). Exports were lower to China/HK (-38,880 mt) and Japan (-14,860 mt).

December pork exports accounted for 28.0% of pork production and 31.9% when including variety meats, compared to 25.6% and 30.6% for December 2022.  January – December 2023 pork exports accounted for 25.4% of production and 29.6% when including variety meats, which was a new annual record, compared to 23.8% and 27.6% for January – December 2022. 

December 2023 pork export value per head averaged $70.74/head, up $3.87/head or +6% from $66.87/head in December 2022.  January – December 2023 pork export value per head averaged $63.76/head, a new annual record, up $2.34/head or +4% from $61.42/head for January – December 2022.

SOURCE: USMEF