U.S. pork exports raced to a great start in 2024, according to January data released by USDA and compiled by USMEF.
Although January pork exports were led by another powerful performance in leading market Mexico, U.S. pork continued to make gains in a wide range of Western Hemisphere and Asia-Pacific destinations. Pork exports totaled 251,424 metric tons (mt) in January, up 6% from a year ago, while export value also increased 6% to $682.1 million.
January pork exports to Mexico reached 102,181 mt, up 6% from a year ago and the second largest on record, trailing only December 2023. Export value increased 8% to $207.2 million, the seventh largest on record.
After a very strong finish in 2023, January pork exports to Korea soared 53% from a year ago to 20,727 mt. Export value was up 51% to $67.6 million. This follows a remarkable performance in December, when shipments reached nearly 24,000 mt, the highest since 2019. Despite a rising presence of Canadian, Mexican and Brazilian pork in Korea, U.S. pork continues to make gains as the U.S. industry retakes market share from the European Union.
Despite lower shipments to leading market Honduras, January pork exports to Central America jumped 22% from a year ago to 11,846 mt, while value increased 29% to $35.7 million. Exports climbed significantly year-over-year to Guatemala, El Salvador, Costa Rica, Panama and Nicaragua.
Exports of U.S. pork variety meat, which were record-large in 2023, continued to perform well in January. Despite trending lower to leading destination China, variety meat shipments increased 7% from a year ago to 50,353 mt, valued at $109.3 million (down 1%). Exports increased to Mexico, the Philippines, Canada, Central and South America and Korea.
January pork shipments to Japan were the largest since August, but were down slightly year-over-year in both volume (28,216, down 1%) and value ($114.8 million, down 1%). U.S. pork faces intense competition from Canadian and Mexican chilled pork and from defrosted Spanish pork being sold at retail. The weak Japanese yen continues to cause customers to seek out the most affordable options, including Brazilian pork.
Pork export value equated to $60.00 per head slaughtered in January, up 4% from a year ago. Exports accounted for 28.3% of total January pork production and 24.3% for muscle cuts. These ratios were each up about one percentage point from a year ago.
Source: Euromeatnews
Although January pork exports were led by another powerful performance in leading market Mexico, U.S. pork continued to make gains in a wide range of Western Hemisphere and Asia-Pacific destinations. Pork exports totaled 251,424 metric tons (mt) in January, up 6% from a year ago, while export value also increased 6% to $682.1 million.
January pork exports to Mexico reached 102,181 mt, up 6% from a year ago and the second largest on record, trailing only December 2023. Export value increased 8% to $207.2 million, the seventh largest on record.
After a very strong finish in 2023, January pork exports to Korea soared 53% from a year ago to 20,727 mt. Export value was up 51% to $67.6 million. This follows a remarkable performance in December, when shipments reached nearly 24,000 mt, the highest since 2019. Despite a rising presence of Canadian, Mexican and Brazilian pork in Korea, U.S. pork continues to make gains as the U.S. industry retakes market share from the European Union.
Despite lower shipments to leading market Honduras, January pork exports to Central America jumped 22% from a year ago to 11,846 mt, while value increased 29% to $35.7 million. Exports climbed significantly year-over-year to Guatemala, El Salvador, Costa Rica, Panama and Nicaragua.
Exports of U.S. pork variety meat, which were record-large in 2023, continued to perform well in January. Despite trending lower to leading destination China, variety meat shipments increased 7% from a year ago to 50,353 mt, valued at $109.3 million (down 1%). Exports increased to Mexico, the Philippines, Canada, Central and South America and Korea.
January pork shipments to Japan were the largest since August, but were down slightly year-over-year in both volume (28,216, down 1%) and value ($114.8 million, down 1%). U.S. pork faces intense competition from Canadian and Mexican chilled pork and from defrosted Spanish pork being sold at retail. The weak Japanese yen continues to cause customers to seek out the most affordable options, including Brazilian pork.
Pork export value equated to $60.00 per head slaughtered in January, up 4% from a year ago. Exports accounted for 28.3% of total January pork production and 24.3% for muscle cuts. These ratios were each up about one percentage point from a year ago.
Source: Euromeatnews