USA USMEF: January pork exports trend modestly lower
US Pork exports were slightly below last January’s large totals, despite another outstanding performance in Mexico and Central America, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF).
Posted on Mar 11 ,00:30
USMEF: January pork exports trend modestly lower
Pork exports totaled 243,965 mt in January, down 3% from a year ago, while value eased 2% to $668 million. Shipments soared to Central America and continued to trend higher to leading market Mexico. Exports also increased year-over-year to China/Hong Kong, the Philippines, Australia and New Zealand, but these results were offset by sharply lower shipments to Japan, Korea and Colombia.
"U.S. pork is coming off a record-breaking year in 2024 and we see opportunities for continued growth this year", said USMEF President and CEO Dan Halstrom.
Mexico and Central America shine again for pork exports, but shipments decline to Japan, Korea
Coming off a monster year in which shipments topped $2.5 billion in value for the first time, pork exports to Mexico continued to climb in January. Exports increased 2% from a year ago to 104,502 mt, the fourth highest on record, while value jumped 7% to $222 million. Mexico accounts for about half of U.S. ham production and more than 10% of total U.S. pork production, and it is the second largest destination for U.S. pork variety meat, trailing only China.
U.S. pork’s presence in Mexico continues to expand even as it faces heightened competition from Brazil. Capitalizing on temporary duty-free access, the Brazilian industry shipped about 43,000 mt of pork to Mexico in 2024, capturing 3% market share. Mexico’s pork imports from Canada, Chile and Europe also currently enter at zero duty.
Pork exports to Central America were also record-large in 2024 and did not miss a beat in January. Fueled by robust growth in top markets Honduras and Guatemala and sharply higher shipments to Costa Rica and Nicaragua, exports to the region soared 22% from a year ago in volume (14,510 mt) and 30% in value ($46.5 million). Consumer education programs and seminars, most of which focus on the loin, have helped position U.S. pork as a versatile, center-of-the-plate protein enjoyed by a rapidly growing number of Central American households.
Also on the heels of a record year, pork exports to New Zealand raced to a rapid start with January exports jumping 71% from a year ago to 1,063 mt, valued at just under $4 million (up 67%). With exports also increasing modestly to Australia, January exports to Oceania were up 7% in volume (10,369 mt) and 4% in value ($36.8 million).
Other January results for U.S. pork exports include:
- Although well below the volumes seen earlier this decade, pork exports to China/Hong Kong gained momentum in the second half of 2024 and continued to trend higher in January. Exports climbed 6% from a year ago to 37,596 mt, while value increased 9% to $92.3 million. This included more than 14,000 mt of muscle cuts, up 59% from a year ago, valued at $33.8 million (up 61%). Similar to beef, pork exporters serving China face uncertainty about their eligibility after mid-March. China is the largest destination for U.S. pork variety meat, taking 322,000 mt last year, and no alternative market can approach this volume at the price Chinese buyers pay. U.S. pork will also face heightened retaliatory duties effective March 10, when China’s effective tariff rate will increase from 37% to 47% (a combination of the 12% most favored nation rate + a 25% Section 232 metal tariff retaliation from 2018 + a new 10% duty).
- January pork exports to the Philippines remained higher year-over-year as shipments were up 3% to 3,145 mt and value increased impressively – climbing 31% to $6.9 million. The Philippine Department of Agriculture recently announced plans to allocate more in-quota imports (tariffed at 15% versus 25% out-of-quota) to meat processors, which could result in more in-quota treatment for U.S. pork.
- After a fairly steady year in 2024, pork exports to Japan slowed in January to 22,272 mt, down 21% from a year ago, while value also fell 21% to $90.8 million. Frozen pork has accounted for a larger share of U.S. exports to Japan, due in part to the persistently weak yen. The yen has rallied modestly in March, mainly on speculation that the Bank of Japan is ready to raise interest rates.
- Pork exports to Korea saw significant growth in 2024, achieving an annual value record of $728 million. But exports slowed in the fourth quarter, and this trend continued in January as shipments fell 21% to 16,453 mt, valued at $52.7 million (down 22%). U.S. pork enters Korea at zero duty, but the market is highly competitive as several other suppliers also have trade agreements that include duty-free access.
- Pork exports to the Caribbean were record-large in 2024 but took a step back in January, falling 11% in volume (8,706 mt) and 2% in value ($27.6 million). But Cuba continued to be bright spot, with shipments climbing 65% to 925 mt and value more than doubling to $3.3 million (up 107%).
- Colombia’s soaring demand for U.S. pork also slowed in January, as exports declined 19% from a year ago to 8,491 mt, valued at $28.1 million (down 12%). Colombia posted a record performance in 2024, with pork export value jumping 32% to $360 million.
- January pork exports equated to $58.26 per head slaughtered, down 3% from a year ago. Exports accounted for 27.1% of total pork production and 23.8% for muscle cuts only, down from the year-ago ratios of 28.3% and 24.3%, respectively.
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