Record volume for U.S. pork exports in March

According to statistics released by USDA and compiled by USMEF, pork exports reached 227,955 metric tons (mt) in March, up 16 percent year-over-year and topping the previous monthly high set in November 2016. Export value was $586.6 million, up 22 percent. For the first quarter, pork exports were up 17 percent in volume (627,647 mt) and 22 percent in value ($1.58 billion).

March exports accounted for 28 percent of total pork production and 23.3 percent for muscle cuts only, up from 25.4 percent and 22 percent, respectively, last year. First-quarter ratios were also significantly higher at 27.2 percent and 22.6 percent, compared to 23.9 percent and 20 percent in 2016. Export value per hog slaughtered averaged $54.93 in March, up 15 percent year-over-year, while the first-quarter average increased 18 percent to $52.42.

The red-hot pace for U.S. pork exports to Mexico continued in March, with volume up 34 percent year-over-year to 68,866 mt, and value increasing 47 percent to $127.2 million. For the first quarter, exports to Mexico totaled 206,262 mt (up 29 percent) valued at $371.9 million (up 42 percent).

In leading value market Japan, March exports increased modestly in volume (37,806 mt, up 2 percent) but climbed 12 percent in value to $155.2 million – the highest since October 2014. In the first quarter, export volume to Japan was up 7 percent in volume (101,581 mt) and 13 percent in value ($411.3 million). Chilled pork exports to Japan increased 3 percent to 56,307 metric tons, while value increased 10 percent to $260 million.

Other first-quarter highlights (compared to year-ago levels) for U.S. pork included:

• Strong variety meat demand in China/Hong Kong helped drive exports to the region 5 percent higher in volume (131,036 mt) and 11 percent higher in value ($258.8 million).
• Pork exports to South Korea have steadily regained momentum as exports totaled 51,158 mt (up 31 percent) valued at $137 million (up 39 percent). Most U.S. pork now enters Korea duty-free under the Korea-U.S. Free Trade Agreement.
• First quarter exports to Colombia doubled from a year ago in both volume (16,532 mt) and value ($36.5 million).
• Also bolstered by a near-doubling of exports to Chile and Peru, first-quarter pork exports to South America were up 95 percent in volume (23,838 mt) and 94 percent in value ($57 million).
• In Australia, an important market for U.S. hams and other cuts utilized in further processing, exports increased 38 percent in volume to 20,607 mt, while export value climbed 43 percent to $57.7 million.