Pork Highlights
July 2023:

Pork: 170,957 mt, +5%; $520 million, steady
PVM: 48,057 mt, +6%; $109 million, +4%
Pork + PVM: 219,014 mt, +5%; $629 million, +1%

January – July 2023:

Pork: 1.342 million mt, +9.5%, $3.862 billion, +8%
PVM: 345,070 mt, +28%; $813 million, +19%
Pork + PVM: 1.687 million mt, +13%; $4.675 billion, +10%

July pork muscle cut exports totaled 170,957 mt, up 5% or +8,280 mt from last year. Exports were higher to Mexico (+7,590 mt), Aus/NZ (+3,870 mt), Taiwan (+2,040 mt), Canada (+1,930 mt), Central America (+1,610 mt), ASEAN (+700 mt), and EU27 + UK (+30 mt), while exports were lower to Korea (-3,360 mt), Japan (-2,760 mt), China/HK (-2,290 mt), South America (-620 mt), and Caribbean + DR (-320 mt). Exports to Mexico (68,590 mt, +12%) and exports to Canada (14,990 mt, +15%) were above year-ago levels for the seventh consecutive month this year. Exports to Japan (24,920 mt, -10%) were the lowest level this year and exports to Korea (10,580 mt, -24%) were the lowest level since October 2021. Combined exports to China/HK totaled 13,120 mt and were the lowest level since February 2019, with exports to China (12,540 mt, -14%) and Hong Kong (580 mt, -26%) below year-ago levels. Exports to Taiwan (2,320 mt, up from 270 mt) have continued to be above year-ago levels throughout 2023. Exports to Malaysia (520 mt, up from 40 mt) were the third highest level on record and exports to Vietnam (380 mt, +294%) were also higher year-over-year, while exports to the Philippines (3,750 mt) were steady and exports to Singapore (170 mt, -32%) were lower year-over-year. Overall, exports to ASEAN (4,900 mt, +17%) were the highest level since August 2022, when excluding last month’s large total. Exports to Chile (1,300 mt, +25%) and Peru (230 mt, +42%) were higher year-over-year, while exports to Colombia (7,450 mt, -12%) were below year-ago levels, but the second highest this year, resulting in exports to South America (9,110 mt, -6%) being lower year-over-year, but the second highest level this year following last month’s large total. Exports to Honduras (2,240 mt, -19%) were the lowest level since September and exports to Panama (640 mt, -19%) were below year-ago levels, but were the highest level this year, exports to Nicaragua (1,500 mt, +247%) were the fourth highest level on record and exports were also higher year-over-year to Guatemala (2,170 mt, +28%), Costa Rica (840 mt, +253%), and El Salvador (820 mt, +17%), resulting in exports to Central America (8,250 mt, +24%) above year-ago levels, but the lowest level since September. Exports to the Caribbean + DR (5,790 mt, -5%) fell below year-ago levels for the second consecutive month, driven by exports to the Dominican Republic (4,430 mt, -5%), which were the lowest level since September 2021, exports to the Bahamas (260 mt, -34%), which were the lowest level since June 2016, and also lower year-over-year exports to Trinidad and Tobago (230 mt, -27%). Combined exports to Aus/NZ totaled 7,920 mt with exports to Australia (6,520 mt, +71%) above year-ago levels and exports to New Zealand (1,400 mt, up from 230 mt) the third highest level on record. Exports to EU27 + UK (60 mt, +100%) were higher year-over-year.

July pork variety meat exports totaled 48,057 mt, up 6% or +2,640 mt from last year. Exports were higher to Mexico (+3,250 mt), ASEAN (+1,390 mt), Korea (+490 mt), Caribbean + DR (+260 mt), Canada (+230 mt), and Central America (+120 mt), while exports were lower to China/HK (-2,480 mt), Japan (-630 mt), South America (-320 mt), and Taiwan (-10 mt). Exports to Mexico (12,490 mt, +35%) were above year-ago levels for the seventh consecutive month and exports to Canada (1,630 +17%) were also higher year-over-year. Exports to China/HK (27,060 mt, -8%) were the lowest level since June 2022 with exports to Hong Kong only accounting for 3 mt of the total volume to China/HK.

Exports to Korea (1,200 mt, +68%) were the highest level since March of last year, while exports to Japan (440 mt, -59%) and Taiwan (70 mt, -9%) were lower year-over-year. Exports to the Philippines (2,610 mt, +75%) were the second highest level so far this year and exports to Vietnam (290 mt, +494%) were the highest since August 2020, bringing exports to ASEAN (2,930 mt, +90%) above year-ago levels all throughout 2023. Exports to Central America (890 mt, +16%) were the highest since August of last year with exports to El Salvador (130 mt, +59%) the second highest level on record, exports to Costa Rica (90 mt, +116%) the highest since February 2022, and exports were also above year-ago levels to Honduras (160 mt, +39%) and Panama (110 mt, +335%), but exports were lower year-over-year to Guatemala (400 mt, -21%). Exports to Chile (50 mt, +4%) were above year-ago levels, while exports to Colombia (280 mt, -53%) were the lowest level since January 2022, resulting in exports to South America (430 mt, -43%) at the lowest level since January. Exports to the Caribbean + DR (490 mt, +117%) were higher year-over-year, driven by above year-ago levels to the Dominican Republic (160 mt, +99%), but the lowest level since last November, and Trinidad and Tobago (100 mt, up from 10 mt).

January – July pork muscle cut + pork variety meat exports totaled 1.687 million mt, up 13% or +192,112 mt from last year. Exports were higher to Mexico (+74,480 mt), China/HK (+47,810 mt), Aus/NZ (+19,150 mt), ASEAN (+14,750 mt), Caribbean + DR (+13,920 mt), Canada (+12,140 mt), Taiwan (+10,690 mt), Korea (+6,640 mt), Central America (+3,700 mt), and EU27 + UK (+10 mt), while exports were lower to Japan (-5,660 mt) and South America (-6,690 mt).

July pork exports accounted for 25.5% of pork production and 30.3% when including variety meats, compared to 24.7% and 29.3% for July 2022. January – July 2023 pork exports accounted for 25.6% of production and 29.9% when including variety meats, compared to 23.6% and 26.8% for January – July 2022.

July 2023 pork export value per head averaged $65.38/head, down $1.71/head or -3% from $67.10/head in July 2022. January – July 2023 pork export value per head averaged $64.07/head, up $4.76/head or +8% from $59.31/head for January – July 2022.

SOURCE: USMEF