Pork Highlights
February 2023:

Pork: 171,754 mt, +4.5%; $484 million, +7%
PVM: 47,975 mt, +40%; $112 million, +25% and the eighth highest on record
Pork + PVM: 219,729 mt, +11%, $596 million, +10%

January – February 2023:

Pork: 361,329 mt, +7%, $1.017 billion, +11%
PVM: 95,167 mt, +37%; $222 million, +21%
Pork + PVM: 456,496 mt, +12%, $1.239 billion, +13%

February pork muscle cut exports totaled 171,754 mt, up +4.5% or +7,403 mt from last year. Exports were higher to Caribbean + DR (+5,440 mt), China/HK (+1,860 mt), Central America (+1,410 mt), Canada (+1,090 mt), ASEAN (+520 mt), Taiwan (+460 mt), Mexico (+280 mt), Aus/NZ (+170 mt), and South America (+160 mt), while exports were lower to Japan (-3,410 mt), Korea (-780 mt), and EU27 + UK (-10 mt). Exports were steady to Mexico (65,290 mt), while exports to Japan (28,140 mt, -11%) and Korea (11,680 mt, -6%) were below year-ago levels. Exports to the Dominican Republic (10,380 mt, +101%) set a new record, surpassing the previous record set in November 2022 (10,060 mt) by 320 mt and exports to the Bahamas (440 mt, +13%), Trinidad and Tobago (300 mt, +104%), Leeward-Windward Islands (220 mt, +3%), and Netherlands Antilles (150 mt, +63%) were also higher year-over-year, bringing exports to the Caribbean + DR (11,680 mt, +87%) to the second highest level on record (behind November 2022). Exports to Colombia (6,870 mt, +4%) were higher year-over-year. Exports to Guatemala (2,910 mt, +49%) were the second highest on record after September 2021 and exports to El Salvador (1,220 mt, +2%) were the fifth highest on record, exports were also higher year-over-year to Honduras (3,520 mt, +9%), Costa Rica (1,050 mt, +55%), and Nicaragua (940 mt, +46%), bringing exports to Central America (10,230 mt, +16%) above year-ago levels. Exports to Canada (14,580 mt, +8%) were higher year-over-year. Combined exports to China/HK totaled 15,400 mt with exports to China (14,550 mt, +14%) higher year-over-year, but at the lowest level since April 2022, and exports to Hong Kong (850 mt, +3%) higher year-over-year and at the highest level since May 2021. Exports to the ASEAN (2,110 mt, +32%) were above year-ago levels driven by the Philippines (1,670 mt, +19%), Singapore (240 mt, +128%), and Vietnam (120 mt, +173%). Exports to Taiwan (540 mt, up from 90 mt) were the highest since July 2021 and exports to Aus/NZ (3,590 mt, +5%) were the highest since July 2022, while exports to the EU27 + UK (60 mt, -19%) were lower year-over-year.

February pork variety meat exports totaled 47,975 mt, +40% or +13,787 mt from last year. Exports were higher to China/HK (+9,050 mt), Mexico (+4,010 mt), ASEAN (+880 mt), Caribbean + DR (+430 mt), Korea (+160 mt), and Taiwan (+140 mt), while exports were lower to Japan (-750 mt), Central America (-100 mt), South America (-70 mt), and Canada (-50 mt). Exports to China (28,450 mt, +47%) and Korea (560 mt, +41%) were higher year-over-year, while exports to Japan (410 mt, -64%) were lower year-over-year and were the lowest level since April 2021. Exports to the Philippines (1,980 mt, +66%) were the fifth highest on record and exports were also higher to Taiwan (140 mt, up from 0 mt). Exports to Mexico (12,940 mt, +45%) were higher year-over-year, while exports to Canada (1,440 mt, -3%) were below year-ago levels, but the highest since March 2022.

Exports to Colombia (340 mt, -29%) were below year-ago levels. Exports to Honduras (180 mt, +85%) and El Salvador (80 mt, up from 2 mt) were higher year-over-year, while exports to Guatemala (230 mt, -34%) were lower year-over-year, bringing exports to Central America (520 mt, -16%) below year-ago levels. Exports to the Dominican Republic (300 mt, up from 10 mt) and the Leeward-Windward Islands (80 met, +121%) were higher year-over-year, bringing exports to Caribbean + DR (510 mt, up from 90 mt) above year-ago levels.

January – February pork muscle cut + pork variety meat exports totaled 456,496 mt, up 13% or +49,149 mt from last year. Exports were higher to China/HK (+21,770 mt), Mexico (+14,060 mt), Caribbean + DR (+7,810 mt), Canada (+3,960 mt), ASEAN (+2,560 mt), Central America (+1,710 mt), South America (+790 mt), Taiwan (+700 mt), and Aus/NZ (+170 mt), while exports were lower to Korea (-2,770 mt), Japan (-2,130 mt), and EU27 + UK (-100 mt).

February pork exports accounted for 23.8% of pork production and 28.3% when including variety meats, compared to 22.7% and 25.5% for February 2022. January – February 2023 pork exports accounted for 23.6% of production and 27.7% when including variety meats, compared to 22.7% and 25.5% for January – February 2022.

February 2023 pork export value per head averaged $59.76/head, up $5.32/head or +10% from $54.43/head in February 2022. January – February 2023 pork export value per head averaged $58.73/head, up $4.84/head or +9% from $53.89/head for January – February 2022.

SOURCE: USMEF