CME: Total US Pork Exports in August Low

US - USDA released on Friday, 9 October the August meat export and import volumes, write Steve Meyer and Len Steiner in their Daily Livestock Report for 12 October.
calendar icon 13 October 2009
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While dated, the information helps explain some of the dynamics in the wholesale meat market in late summer, especially when one puts it in the context of higher year over year pork production. Below is a very brief recap of the highlights from this latest release. Please keep in mind that the data is in metric ton and on a shipped product weight basis, carcass weight conversions will slightly affect comparisons to 2008.

Total US pork exports in August (based on product weight data) were 104,877 MT, 17.5 per cent lower than a year. In the three summer months (June - August) pork production was up 2 per cent while exports were down 21 per cent.

All the extra supplies this year had to be absorbed by the domestic market, pressuring prices lower and consequently pressuring values for other meat protein options.

The only market showing any growth for US pork exports was Mexico, with shipments in August up 36.4 per cent compared to a year ago. But, smaller shipments to a number of other markets more than offset the increase in shipments to Mexico.

Exports to Japan, which traditionally is the largest market for US pork exports were down 22.7 per cent from a year ago. Exports to Canada were also down 8 per cent while exports to Russia were down 69 per cent.

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