March 4, 2009
US '08 pork export value breaks record
The total dollar value of US pork exports surged to US$5.3 billion in 2008, well above the prior record of US$3.5 billion in 2007, according to the Livestock Marketing Information Centre (LMIC).
The dollar value of pork and sausage exports also set a new record, at US$4.16 billion in 2008, compared to US$2.75 billion in 2007.
Record-export values were also seen for pork variety meats and lards, oils and other fats in response to overwhelming demand from oil and feedstuff sectors.
Variety meats nearly doubled in value in 2008 compared to 2007, while the value of lards, oils and other fats were up more than 30 percent.
Last year, the total value of US pork product imports was US$1.5 billion, about 12 percent below the prior year and the smallest value since 2003.
The value of live hogs and pigs imported was 26 percent lower than in 2007, while imports of pork and sausages were down 9 percent.
The import value of variety meats increased, while the import value of lards, oils and other fats was about even with 2007.
In 2008, export value increased to a record of US$3.79 billion.
The overall data for 2008 reinforce the crucial role of international trade for the US pork industry.
LMIC said that US is expected to solidly remain as a net exporter this year, even though the international economic recession will likely pull-down that value in 2009.
