USMEF: May pork exports below last year
May pork exports totaled 251,447 mt, down 4% from a year ago, valued at $715.8 million (down 2%). Through the first five months of the year, exports were still up 6% to 1.29 million mt, while export value was 7% above last year’s record pace at $3.6 billion.
"Pork shipments to Mexico trended a bit lower in May, but that’s following a record April performance", said USMEF President and CEO Dan Halstrom. And even at that, export value to Mexico still topped $200 million. U.S. pork also posted another great month in South Korea and exports to the ASEAN region were the largest in three years. Demand also continued to strengthen in Central America and the Caribbean.
Although pork export volume to leading market Mexico slowed in May following record-large April shipments, export value still increased and 2024 demand remains on a record pace. May exports to Mexico totaled 91,338 mt, down 6% from a year ago, but value was 2% higher at $201.9 million. January-May exports to Mexico reached 480,193 mt, up 7% from a year ago, while value increased 14% to $1.02 billion.
While Mexico continues to shine as a destination for hams and other pork cuts for further processing, the U.S. industry has made impressive inroads in the country’s rapidly growing retail and foodservice sectors, with per-capita pork consumption continuing to expand. Mexico is also a major outlet for U.S. pork variety meat, including for taco applications.
Pork exports to Korea posted another robust performance in May, totaling 22,354 mt. This was up 6% from a year ago, while value increased 8% to $78.9 million. Through May, exports to Korea climbed 35% above last year’s pace to 118,092 mt, while value soared 40% to $395.4 million. The U.S. industry continues to capitalize on Korean consumers’ growing appetite for convenient, easy-to-prepare entrées and snacks, while U.S. pork is also gaining traction in the foodservice sector.
Despite lower shipments to leading market Honduras, May pork exports to Central America increased 11% from a year ago to 11,711 mt, while export value climbed 26% to $37.8 million. May exports to Costa Rica nearly tripled from a year ago, while also gaining strength in Guatemala and El Salvador. January-May exports to the region increased 25% from a year ago to 64,161 mt, while export value soared 35% above last year’s record pace to $196.8 million.
Other January-May results for U.S. pork exports include:
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