US pig meat exports still strong, but easing

US pig meat and offal exports have seen a strong performance across January to October, with volumes traded even a little higher than last year’s record levels, totalling 2.58 million tonnes.

This volume was achieved despite a 23% fall in exports to the former primary market, China, with these volumes totalling 618,000 tonnes. This decline was primarily offset by a 30% increase in shipments to Mexico, which totalled 761,000 tonnes. The smaller markets of Colombia and the Philippines also recorded strong growth.

US shipments to Mexico have faced a number of challenges in recent years. Retaliatory tariffs negatively affected trade in 2018-2019, and then last year Mexican demand was weakened due to the coronavirus pandemic. While the pandemic remains a challenge, volumes have nonetheless been able to recover this year, with the US seeking alternative markets for pork exports as Chinese demand weakens. Considering that US pig prices have been exceptionally strong this year, it seems Mexican demand for imported pork has also been significant.

Looking at the third quarter alone, US shipments were the lowest so far this year at 704,000 tonnes. Nonetheless, this was still 2% higher than the same quarter last year. However, volumes dropped 5% below last year in October. Some of the markets that had been showing strong growth, compensating for lost Chinese demand, eased. This was particularly the case for the Philippines. Although these exports had nearly doubled for the year to October overall, totalling 78,000 tonnes, shipments in the third quarter alone were 17% lower than a year earlier. It may be that the weaker price competitiveness of US pork for much of this year did ultimately start to dampen international trade prospects. Weakening Chinese import demand in the second half of the year in would have increased competition on alternative markets from other global exporters around this time.

The latest USDA forecasts for US pork exports (not including offal) anticipate a 1% decline in export volumes this year, although a 3% recovery in expected for 2022.

Subscribe to receive pork market news straight to your inbox. Simply complete our online form.

While AHDB seeks to ensure that the information contained on this webpage is accurate at the time of publication, no warranty is given in respect of the information and data provided. You are responsible for how you use the information. To the maximum extent permitted by law, AHDB accepts no liability for loss, damage or injury howsoever caused or suffered (including that caused by negligence) directly or indirectly in relation to the information or data provided in this publication.

All intellectual property rights in the information and data on this webpage belong to or are licensed by AHDB. You are authorised to use such information for your internal business purposes only and you must not provide this information to any other third parties, including further publication of the information, or for commercial gain in any way whatsoever without the prior written permission of AHDB for each third party disclosure, publication or commercial arrangement. For more information, please see our Terms of Use and Privacy Notice or contact the Director of Corporate Affairs at info@ahdb.org.uk  © Agriculture and Horticulture Development Board. All rights reserved.