U.S. pork exports trend higher in March with optimism for strong months ahead, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF) in a recent report.
Reaching the highest totals since May 2021, U.S. pork exports were up 17% year-over-year, totaling 260,195 metric tons (mt)—the ninth largest volume on record. Export value totaled $724 million for the month—also the ninth highest on record—up 18% from last year. Rounding out the first quarter, U.S. pork exports reached 716,691 mt, up 14% from last year, valued at $1.96 billion and up 15% YoY.
Mexico set the pace for March with volumes up 15% from last year and the second largest total on record (behind Jan. 2023) at 95,030 mt. Additionally, first quarter shipments to the destination were also up 11% (270,056 mt), with values 34% higher reaching $541.7 million.
Brazilian pork gained access to Mexico as of late 2022 and small volumes have arrived to the market, says USMEF, with Brazil reporting 27 mt in February and 189 mt in March.
Amidst a rapid rebound in tourism, strong retail demand and limited domestic production due to African swine fever (ASF), the U.S. pork industry has benefitted from significant tariff advantages over other major suppliers as exports to the Dominican Republic. Exports totaled 13,181 mt, up 87% from last year, shattering the previous record set in February, USMEF says. As a whole, the shipments to the Caribbean were strong in March, up 63% in volume (36,598 mt) and up 72% in value ($101.5 million).
The Philippines, also struggling to recover from ASF domestically and with reduced import tariffs, has increased its shipments of U.S. pork, up 65% from last year (5,077 mt) with a value of $9.6 million (up 42%). The ASEAN region overall increased 49% in volume (13,960 mt) and 40% in value ($35.2 million) in the first quarter of 2023.
“It’s great to see U.S. pork exports continue to expand in many of our Western Hemisphere markets, but there is also notable momentum in the Asia Pacific,” says Dan Halstrom, USMEF president and CEO. “With consumer activity in the region rebounding toward pre-COVID levels and U.S. pork very competitively priced compared to European product, 2023 holds excellent potential for broad-based growth.”
U.S. pork exports to South Korea, Australia, Japan, China/Hong Kong and Taiwan also saw increases in March.
According to USMEF, March pork export value equated to $63.15 per head slaughtered (up 15% Yoy) and accounted for 29.1% of total pork production.
The full report can be found on the USMEF website.
Read More:
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