Pork Highlights
May 2023:

Pork: 1209,535 mt, +14%, and the highest since May 2021; $604 million, +9% and the tenth highest on record
PVM: 51,826 mt, +27% and the ninth highest on record; $127 million, +24% and the highest on record
Pork + PVM: 261,361 mt, +16% and the ninth highest on record; $731 million, +12% and the seventh highest on record

January – May 2023:

Pork: 974,985 mt, +10%, $2.769 billion, +11%
PVM: 246,856 mt, +35%; $586 million, +24%
Pork + PVM: 1.222 million mt, +14.5%; $3.355 billion, +13%

May pork muscle cut exports totaled 209,535 mt, up 14% or +25,690 mt from last year and the highest since May 2021 Exports were higher to Mexico (+13,650 mt), Aus/NZ (+5,090 mt), Korea (+4,340 mt), Taiwan (+2,670 mt), China/HK (+1,390 mt), Central America (+1,280 mt), Canada (+850 mt), and ASEAN (+470 mt), while exports were steady to EU27 + UK and were lower to South America (-2,360 mt), Caribbean + DR (-980 mt), and Japan (-920 mt). Exports to Mexico (83,090 mt, +20%) were the highest level on record, 510 mt above the previous record held in January of this year. Exports to Canada (14,540 mt, +6%) were above year-ago levels for the fifth consecutive month. Exports to Korea (20,520 mt, +27%) were the second highest level so far this year, and when excluding last month’s large total, were the highest level since April 2019. Exports to Japan (30,360 mt, -3%) were below year-ago levels. Combined exports to China/HK totaled 16,890 mt with exports to China (16,460 mt, +9%) and Hong Kong (420 mt, +18%) higher year-over-year. Exports to Taiwan (3,000 mt) were up significantly and were the highest level since January 2010. Exports to the Philippines (3,120 mt, +7%) were the highest level since August, exports to Malaysia (780 mt, up from 0 mt) were the second highest level on record just behind last month’s large total, and exports to Singapore (260 mt, -18%) were lower year-over-year, but were the highest level since August, bringing exports to the ASEAN (4,340 mt, +12%) to the highest level since August. Exports to Chile (1,410 mt, +212%) were the highest level since October and exports to Peru (370 mt, +322%) were the highest level since October 2021, but exports to Colombia (5,660 mt, -39%) were lower year-over-year resulting in exports to South America (7,510 mt, -24%) below year-ago levels. Exports to El Salvador (1,020 mt, -7%) and Panama (280 mt, -72%) were lower year-over-year, while exports to Honduras (5,040 mt, +32%) were the fourth highest level on record, exports to Nicaragua (1,170 mt, +75%) were the seventh highest level on record, and exports to Guatemala (1,700 mt, +29%) were also higher year-over-year, bringing exports to Central America (9,760 mt, +15%) above year-ago levels. After four consecutive months of being above year-ago levels, exports to the Dominican Republic (7,320 mt, -12%) fell below year-ago levels and exports to the Bahamas (400 mt, -26%), the Leeward-Windward Islands (210 mt, -8%), and Netherlands Antilles (140 mt, -15%) were also lower year-over-year, while exports to Trinidad and Tobago (350 mt, +96%) were higher year-over-year. Overall, exports to Caribbean + DR (8,770 mt, -10%) were below year-ago levels. Combined exports to Aus/NZ totaled 10,030 mt (+103%) and were the seventh highest level on record, with exports to Australia (9,200 mt, +99%) the eighth highest level on record and exports to New Zealand (830 mt, +168%) the highest level since July 2021. Exports to EU27 + UK (110 mt, -4%) were lower year-over-year.

May pork variety meat exports totaled 51,826 mt, up 27% or +10,991 mt from last year and the ninth highest on record. . Exports were higher to China/HK (+5,970 mt), Mexico (+3,320 mt), ASEAN (+740 mt), Canada (+400 mt), South America (+370 mt), Central America (+200 mt), Caribbean + DR (+140 mt), and Taiwan (+50 mt), while exports were lower to Japan (-320 mt) and Korea (-160 mt). Exports to China (30,170 mt, +25%) were the highest so far this year, while there were no reported exports to Hong Kong.

Exports to Taiwan (290 mt, +21%) were the highest level since August, while exports to Korea (660 mt, -19%) were below year-ago levels. Exports to Japan (640 mt, -33%) were lower year-over-year, but were the highest level since October. Exports to the Philippines (1,910 mt, +31%) were the eighth highest level on record and exports to Vietnam (260 mt) were up significantly from last May, bringing exports to the ASEAN (2,220 mt, +50%) above year-ago levels. Exports to Mexico (13,720 mt, +32%) and Canada (1,530 mt, +35%) were higher year-over-year. Exports to Central America (760 mt, +35%) were the highest level since August, driven by exports to Guatemala (410 mt, +35%) which were the eighth highest level on record, and higher year-over-year exports to Honduras (180 mt, +54%), El Salvador (70 mt, +3%), and Costa Rica (40 mt, +48%). Exports to Chile (310 mt, +108%) were the highest level since October 2021 and exports to Colombia (590 mt, +52%) were higher year-over-year, bringing exports to South America (940 mt, +64%) above year-ago levels. Exports to Caribbean + DR (510 mt, +36%) were higher year-over-year, driven by above year-ago exports to the Dominican Republic (330 mt, +91%) and Trinidad and Tobago (100 mt, +47%).

January – May pork muscle cut + pork variety meat exports totaled 1.222 million mt, up 15% or +154,360 mt from last year. Exports were higher to Mexico (+50,150 mt), China/HK (+49,650 mt), Caribbean + DR (+15,300 mt), Korea (+11,590 mt), Aus/NZ (+11,090 mt), ASEAN (+9,320 mt), Canada (+7,620 mt), Taiwan (+5,250 mt), and Central America (+1,230 mt), while exports were lower to South America (-4,670 mt), Japan (-3,390 mt), and EU27 + UK (-190 mt).

May pork exports accounted for 27.6% of pork production and 32.0% when including variety meats, compared to 25.2% and 28.6% for May 2022. January – May 2023 pork exports accounted for 25.4% of production and 29.6% when including variety meats, compared to 23.4% and 26.3% for January – May 2022.

May 2023 pork export value per head averaged $69.08/head, up $3.81/head or +6% from $65.27/head in May 2022. January – May 2023 pork export value per head averaged $63.39/head, up $6.00/head or +10% from $57.38/head for January – May 2022.

SOURCE: USMEF