U.S. pork exports demonstrated strong performance year-to-date through August increasing 22% from a year ago to 221,586 metric tons. Additionally, the value of U.S. pork exports climbed 19% to $588.8 million. These results push January-August export volume 4% ahead of last year’s pace at 1.7 million metric tons (MT), while value increased 1% to $4.35 billion. Here are a few specific highlights:
- Despite China’s retaliatory duties, China/Hong Kong was the largest destination for U.S. pork in August at 63,656 MT, more than tripling the August 2018 volume. Additionally, export value climbed 160% to $137.6 million. For January through August, exports to China/Hong Kong were up 38% in volume (356,322 MT) and 17% in value ($717.9 million).
- Since Mexico removed its 20% retaliatory duty on U.S. pork in late May, exports have rebounded significantly but still trail the record-large numbers posted in 2017. August exports to Mexico were down 1% year-over-year in volume (61,365 MT), but value increased 18% to $121.1 million. A slow start to the year still weighs on January-August exports to Mexico, which were down 11% from a year ago in both volume (473,309 MT) and value ($821.8 million).
Pork export value averaged $54.18 per head slaughtered in August, up 22% from a year ago. January-August exports account for 26.4% of total pork production and 23% for muscle cuts, both up slightly year-over-year.
Read more here from the U.S. Meat Export Federation.
2019 Overall U.S. Pork Exports Now in Positive Territory