Outstanding First Half for U.S. Pork Exports
June pork exports totaled 245,964 metric tons (mt), up 12% from a year ago, while export value climbed 6% to $691.4 million. Through the first half of 2023, exports were 14% above last year’s pace at 1.47 million mt, valued at $4.05 billion (up 12%).
June pork exports to leading market Mexico climbed 19% from a year ago to 85,853 mt, while value increased 8% to $179.4 million. These results kept first-half exports on a record-shattering pace at 532,934 mt, up 14% from a year ago, while value increased 21% to $1.07 billion.
Taiwan’s demand for U.S. pork has rebounded dramatically this year, with June exports increasing 915% from a year ago to 3,767 mt – the largest in 14 years. June export value was $12.3 million, up more than 1,000%. First-half pork exports to Taiwan jumped 531% from last year’s low totals to reach 10,280 mt, while value increased 598% to $33.5 million.
Despite China’s persistently low first-half hog prices and large supplies of domestic pork, U.S. pork exports to China/Hong Kong – a majority of which is pork variety meat – have increased in 2023. First-half exports to the region totaled 275,358 mt, up 24% from a year ago, valued at $716.2 million (up 20%). Pork variety meat exports to China are on a record pace through June, totaling 173,647 mt, up 30% year-over-year, valued at $461 million (up 24%). China’s hog prices have increased sharply since mid-July, but any impact from this trend is not reflected in first-half export results.