CME: Pork Exports Continue on Record Pace

US - November pork exports, as expected, fell short of last year’s record-high levels while beef exports, though 13.3 per cent lower than one year ago, were only one per cent lower in terms of value, write Steve Meyer and Len Steiner.
calendar icon 16 January 2013
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The data was released by the Foreign Agricultural Service on Friday. Some highlights of the November data are:

Pork exports continue on a record pace and, with only one month of data remaining to be added, are a virtually certain to break the record set in 2011. November pork muscle meat exports were 6% lower than last year but the year-to-date total of 1.667 million metric tons (MMT) is 5.1% larger than in 2011.

The value of November pork muscle cut exports was 6.3% lower than last year but the 2013 value through November remains 4.2% higher.

Pork variety meat exports were 14.8% lower, yr/yr, in November and stand 10.8% lower for the year to-date. The values of variety meat exports, though, are MUCH stronger — down only 0.3% in November and 15.9% HIGHER, YTD through November.

Total exports of pork, pork variety meats and sausage casings through November were 2% higher than last year in volume and 5% higher in value at $5.8 billion.

Mexico is still the largest volume market for total U.S. pork and pork variety meat exports with 2013 volume up 11% and value up 15%. Japan is still the highest value market for U.S. pork product exports and will likely purchase over $2 billion of product for the year. YTD 2012 exports to Russia are double their 2011 level.

U.S. beef and beef variety meat exports in November were 13.3% lower than one year ago but the value of those shipments was down only 1%, yr/yr. Year-to-date beef and beef variety meat exports now stand 11% lower than last year but the value of those shipments is up 2% due to this year’s higher beef prices.

Canada(+18.5%), Hong Kong (+18.8%) and Russia (+19%) were major growth markets in November. Exports to Mexico, a pricesensitive market, are down this year.

Pork exports have accounted for 27% of total muscle cut and variety meat production according to the U.S Meat Export Federation. Export value has amounted to $56.12 per head in 2013. Beef and beef variety meat exports have accounted for 12.6% of total production and are valued at $214.64/hd., 5% higher than in 2012.

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