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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.
Friday May 5, 2017/ USMEF/ United States.
https://www.usmef.org
