June 25, 2008

US pork exports in April jumped more than 95 percent on-year, with shipments exceeding 439 million pounds, according to the latest Livestock, Dairy and Poultry Outlook from the USDA on June 17, 2008.
 

Japan is the biggest importer of US pork, followed by Hong Kong and China, the report said.

Japan alone imported 114 million pounds of US pork while Hong Kong and China imported a combined total of 107.2 million pounds, according to the report's figures.

Russia and Mexico are large buyers too, importing 49 million pounds and 43 million pounds of US pork respectively, the report said.

The report attributed the buoyant result to plentiful pork supplies and the weak US dollar.

In addition, second quarter prices reached US$52-53 per cwt for 51-52 percent lean hogs, close to the second quarter prices in 2007. Prices in 2008 are expected to be US$46-48 per cwt. Hogs are expected to bring about US$47-51 per cwt in 2009, up US$1-3 per cwt from 2008.

Due to rising input costs and lower hog imports from Canada, US producers are also likely to market hogs at lower weights this year, according to the report.