June 19, 2006

US pork exports up 16 percent for January to April 2006

US pork exports were up 16 percent for the first four months of the year compared with the same period last year, but the figure climbed only 1.1 percent in April compared with last year.

However, pork exports in April was the second highest on record and reached an all-time high as a percentage of total production.

Japan was the only major market in Asia where US pork exports suffered a decrease. Pork exports to the country fell 9.7 percent in the first four months of the year, while exports to South Korea was up 64 percent, China and Hong Kong up by 42.6 percent and Taiwan up by 63.8 percent. Russia saw the most significant increase, up by 141.6 percent.

Retail pork prices for May were down 1.1 percent from April and down 4.4 percent from May 2005. Retail pork prices for January - May of 2006 were down 2.4 percent from the same period a year earlier.

The margin for processors, packers and retailers for January - May was up 4.3 percent from 2005.

Both marketers and consumers benefited from the lower live hog prices.

Live prices for hogs for January - May were down 16.7 percent in 2006 from a year earlier.