USA USMEF: Outstanding first half for US pork exports
Pork U.S. pork exports concluded an excellent first half with another strong performance in June, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While well below the record pace established in 2022, June beef exports topped $900 million in value, pushing first-half export value to nearly $5 billion.
Posted on Aug 14 ,00:25
USMEF: Outstanding first half for US 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%).
"Mexico is certainly the 2023 pacesetter for U.S. pork exports but what’s really exciting is that the industry is achieving such broad-based growth internationally,” said Dan Halstrom, USMEF president and CEO. “Exports are making impressive gains in the Western Hemisphere and reclaiming market share in many Asia-Pacific markets, and U.S. pork is well-positioned to continue gaining momentum in the second half".
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. Pork variety meat exports to Mexico have strengthened even more dramatically in 2023. Through June, variety meat shipments increased 49% to 77,818 mt, valued at $136.6 million (up 43%).
Pork exports to Australia continued to build momentum in June, increasing 79% from a year ago to 7,513 mt, valued at $25.6 million (up 71%). First-half exports to Australia increased 71% year-over-year in volume (33,179 mt) and 64% in value ($114.9 million). While most of this volume is raw material for further processing, value-added processed U.S. pork products are also popular in Australia’s retail and foodservice sectors.
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.
Other first-half export results for U.S. pork include:
- Pork exports to Japan edged above year-ago levels in June, increasing 1% in volume (32,420 mt) and 3% in value ($131.7 million). First-half export volume was slightly below last year (187,270 mt, down 1%), while export value fell 6% to $749.4 million. Japan is importing more frozen pork from the U.S. and less chilled pork and ground seasoned pork, due in part to the weak yen and persistent shipping and logistical challenges.
- While pork exports to South Korea took a step back in June, first-half shipments still increased 10% from a year ago to 101,969 mt, while value was up 2% to $332.8 million. U.S. pork, which enters Korea at zero duty under the Korea-U.S. Free Trade Agreement, achieved this growth despite imports from Canada, Mexico and Brazil benefiting from Korea’s recent implementation of duty-free import quotas. Korea also recently reinstated access for pork originating from regions of Germany that are free of African swine fever (ASF), including one German slaughter plant, but exports have not yet materialized. Similar to other Asian markets, Korea’s imports of European pork are down significantly in 2023, reflecting higher EU prices.
- 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.
- Led by China/Hong Kong and Mexico, global exports of U.S. pork variety meat reached 297,013 mt in the first half, up 32% from a year ago. Export value increased 22% to $703.9 million. First-half export growth was also fueled by larger shipments to the Philippines, Canada, Colombia, the Dominican Republic and Taiwan.
- Although pork exports to the Dominican Republic trended lower in May and June, shipments to the DR still increased impressively in the first half. January-June volume was up 29% from a year ago to 55,934 mt, while value increased 38% to $149.4 million. This nearly matches the full-year value total achieved in 2021, when exports to the DR were valued at $150.8 million.
- Robust growth in the Philippines and Malaysia pushed first-half pork exports to the ASEAN region to 35,855 mt, up 55% from a year ago, while value climbed 35% to $86.2 million. ASF has significantly impacted domestic pork production in both countries and the U.S. industry has capitalized on tighter supplies and higher prices for European pork. The Philippines has emerged as a major destination for pork variety meat exports, with first-half shipments up 67% to 13,612 mt, valued at $19 million (up 39%).
- Widespread growth in Central America pushed first-half pork exports up 3% to 61,690 mt, while value climbed 10% to $175.9 million. Shipments increased to Honduras, Guatemala, El Salvador, Nicaragua and Costa Rica, offsetting a decline to Panama.
- Pork exports to South America trended lower in the first half as shipments to Colombia slowed (42,960 mt, down 17% from a year ago; $109.3 million, down 9%). But exports to Chile rebounded strongly, up 61% to 7,327 mt, valued at $25.29 million (up 21%). Exports to Peru increased as well, increasing 6% to 1,229 mt, valued at $3.2 million (up 11%). Total exports to the region were down 10% to 52,442 mt, valued at $142.6 million (down 3%).
Pork export value equated to $66.31 per head slaughtered in June, up 8% from a year ago. The first-half average was $63.87 per head, up 10%. Exports accounted for 31% of total June pork production, up four full percentage points from a year ago. For muscle cuts only, exports accounted for 26.7% of production – up three full percentage points. The first-half ratios were 30% of total production and 25.7% for muscle cuts, up from 26.6% and 23.5%, respectively.
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