Pork Exports Set New Record

January 11, 2017 — 

U.S. red meat exports continued to build momentum in November, highlighted by a new monthly volume record for pork exports. Both pork and beef exports exceeded year-ago levels by more than 20 percent in both volume and value, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF). [Source: USAgNet, 1/10/2017]

November pork exports totaled 225,757 metric tons (mt), up 24 percent year-over-year and breaking the previous record (218,132 mt) set in October 2012. Export value was $586.8 million, up 30 percent from a year ago and the highest since May 2014. For January through November, pork export volume was up 7 percent from a year ago to 2.09 million mt, while export value increased 5 percent to $5.38 billion.

Even with U.S. pork production reaching record levels, exports are accounting for a larger share. November export volume equated to 28 percent of total production and 23 percent for muscle cuts only -- substantial increases over the November 2015 ratios of 24 percent and 21 percent. For January through November, exports accounted for 25.5 percent of total production and 21.4 percent for muscle cuts -- up from 24.2 percent and 20.9 percent, respectively, in 2015. November export value averaged $55.09 per head slaughtered, up 19 percent year-over-year. The January-November average was $49.63 per head, up 2 percent.

Demand for U.S. pork gained further momentum in Mexico in November, where a fifth consecutive record year for export volume is now within reach. November exports totaled 73,984 mt, up 21 percent year-over-year and pushing January-November volume (649,992 mt) nearly even with the record pace of 2015. Export value was up 32 percent in November ($139.2 million) and January-November export value increased 4 percent to $1.19 billion.

Though still lower year-over-year, pork exports to leading value market Japan continued to strengthen in November, increasing 24 percent from a year ago in volume (37,317 mt) and 35 percent in value ($153.4 million, the highest since April 2015). Through November, export volume to Japan was down 5 percent to 357,808 mt, while export value ($1.44 billion) pulled within 1 percent of the previous year's pace. 2016 will be a record year for chilled pork exports to Japan, which were up 10 percent through November to 201,828 mt.