U.S. Pork Exports Post Solid Gains in May
U.S. pork exports continued a strong 2010 performance in May, according to statistics released by USDA and compiled by the U.S. Meat Export Federation (USMEF). For producers, the gain in export value per animal processed in May was impressive: $53.10 per animal – nearly 30 percent higher than the $40.90 recorded in May 2009.
May pork export value increased 22 percent over a year ago and 5 percent from April 2010, reaching $419.3 million. Export volume of 162,865 metric tons (359 million pounds) was up 13 percent over last year and 4 percent from the previous month.
The pork industry is seeing a higher return per pound on its exports in 2010. The value of those exports hit $1.9 billion for the first five months of 2010, a 5 percent increase over last year. At the same time, the volume of exports this year is 787,869 metric tons (1.7 billion pounds), essentially even with last year’s pace.
Pork muscle cut exports are up 4 percent in volume and 9 percent in value over last year, while variety meat exports are down 13 percent and 14 percent, respectively.
May pork exports solid worldwide, with boost from resumption of Russia, China trade
Though well below last year’s pace, the recent resumption of exports to Russia and China have begun to have a positive impact on the global results for U.S. Pork. Exports to Russia are still around 50 percent below the first five months of 2009 in volume, 24,386 metric tons or 53.8 million pounds, and value at $55 million. But May results showed significant progress as exports returned to 88 percent of the volume and 97 percent of the value achieved in May 2009. The picture is similar in China, where the cumulative 2010 total is still quite small but May exports were down only 15 percent from one year ago and the value, $10.2 million, was actually 31 percent higher.
Mexico continues to be the largest volume destination for U.S. Pork, increasing 7 percent in volume to 225,672 metric tons or 497.5 million pounds and 27 percent in value at $401.5 million over the record pace established in 2009. May exports slowed slightly compared to the previous month, however, due in part to record-high ham prices.
Exports to Japan, by far the largest foreign market for U.S. Pork in terms of value, remain below last year’s pace but are showing signs of recovery from the slump encountered in early 2010. May exports exceeded the year-ago level by 18 percent in both volume and value, raising the cumulative total to 180,326 metric tons or 397.5 million pounds, valued at $671.2 million. For the year, pork exports to Japan remain down 6 percent in volume and 3 percent in value from 2009. Muscle cut exports to Japan are within 4 percent in volume and 2 percent in value of their 2009 pace, but variety meat exports are down by about one-third.
Pork exports to Hong Kong continued their strong momentum in May, with the cumulative 2010 total reaching 95,686 metric tons or nearly 211 million pounds, valued at $135.2 million – an increase of 40 percent in volume and 24 percent in value. Hong Kong is a considerable bright spot for pork variety meat, with exports up 56 percent in volume and 44 percent in value. Muscle cut exports to Hong Kong also have increased in both volume at 23 percent and value at 11 percent, over the first five months of 2009.
Other market highlights include:
- Exports to Canada are up 15 percent in volume to 73,810 metric tons or 162.7 million pounds and 25 percent in value at $246.5 million over January to May 2009. Through June, live hog imports from Canada were 16 percent smaller than last year at 2.79 million head. This is roughly one quarter of Canadian hog slaughter, compared to about 30 percent over the same period last year.
- The Philippines has emerged as a tremendous growth market for U.S. Pork, with volume nearly doubling over last year to 29,227 metric tons or 64.4 million pounds and value increasing by 119 percent to more than $55 million. Despite a slowdown in Vietnam, exports to the ASEAN region have increased 57 percent in volume and 73 percent in value compared to the start of 2009.
- May exports to Central and South America were down slightly from April but the cumulative total increased 42 percent in volume t0 25,264 metric tons or 55.7 million pounds and 46 percent in value to $56.4 million over last year. The top markets of Honduras, Guatemala and Colombia all achieved significant growth.
