CME: Pork, Beef and Poultry Exports
US - CME's Daily Livestock Report for 11th July, 2008.
14 July 2008
4 minute read
Exports remain a significant driver for the US pork market and the latest USDA update of May agricultural trade provided further evidence of the impressive growth in US pork sales abroad.
| E-Livestock Volume | 11-Jul | 10-Jul | 4-Jul |
|---|---|---|---|
| LE (E-Live Cattle): | 16,755 | 21,058 | Holiday |
| GF (E-Feeder Cattle): | 1,331 | 2,255** | Holiday |
| HE (E-Lean Hogs): | 16,397 | 21,002 | Holiday |
| ** New Globex Feeder Cattle Record | |||
Total pork exports in May (this includes fresh/frozen and processed pork) were 158,990 MT, 96.1% higher than a year ago and a record volume of pork shipped in a given month. The increase in May shipments followed strong April sales and the value of US pork exports in May was reported at $395.3 million. In the first five months of the year, total US pork export volume has been about 250,547 MT or 59.6% larger than a year ago.
The value of pork exports for the period Jan - May exceeded $1.6 billion, $545 million or 50.1% larger than a year ago. If we also account for the $172 million in exports of pork variety meats, total US pork and pork variety meat dollar sales for the first five months of the year have increased by more than $600 million.
While big increases in US exports to the Chinese market has provided much of the impetus for the significant acceleration in US pork export growth, exports to other top markets have also shown notable gains. Pork exports to China/Hong Kong in May were 42,938 MT, surpassing US pork shipments to Japan and making it the top market for US pork. US pork exports to China in May were almost six fold larger than a year ago on a volume basis. Also important has been the increase in exports to other top markets. Pork exports to Japan, the second largest market for US pork were 38,844 MT, 22.8% larger than a year ago. Exports to Mexico have also recovered from the low levels of a year ago and at 19,627 MT, May shipments to Mexico were 76.5% higher than a year ago. Exports to Russia, at 13,311 Mt, were 108% larger than a year ago while shipments to Canada rose 16.5%.
US beef and poultry exports also posted strong growth in May. Total US beef and veal shipments for the month were 55,654 MT, 36.2% higher than a year ago. Of note were US beef exports to Russia, about 1,700 MT, compared to zero a year ago. US beef exports to Canada in May were 40% larger than a year ago while shipments to Japan rose some 71% compared to a year ago, making it the third largest market for US beef. US chicken exports in May increased 49% from a year ago, with exports to Russia increasing almost 60% in May.
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