US pork exports lower than previous year

According to this week's review of the US hog industry, pork exports for October were down 3.5% from a year ago.

The review written by Glenn Grimes and Ron Plain indicated that the stronger than expected live hog prices in October were not due to larger exports than a year earlier. Pork imports for October were up 2.7% from 12 months earlier.

Pork exports for January-October were down 15.7% from 2008. Our exports for January-October to Japan were down 4.2%, to Mexico up 34.9%, to Canada down 4.5%, to South Korea down 35.2%, to China-Hong Kong down 63%, to Russia down 35.2%, to Australia up 25.1%, to Taiwan up 28.6%, to Romania up 236.2% and to other countries down 23.5% compared to last year.

Feeder pig imports for October were down 27% from a year earlier. Slaughter hog imports from Canada for October were down 36.5% from 2008. Meanwhile, total live hog imports from Canada for January-October were down 32.3% from a year earlier.

The value of pork exports per hog slaughtered for January-October in 2008 was US$36.15. This declined to US$31.47 for the same month of 2009. The value of pork and pork variety meat exports per hog slaughtered in 2008 was US$42.52. The amount of the same period in 2009 declined to US$37.84 per hog.

Nationally feeder pig prices last week were US$1-US$4 per head higher than a week earlier. The average price for 10-pound pigs was US$39.82 per head. The average price for 40-pound pigs was US$47.55 per head.

Pork product prices were pushed higher again this week with the cutout last week at US$70.72 per cwt, up US$2.60 per cwt from a week earlier. Loin prices were sharply higher at US$90.78 per cwt, up US$13.58 per cwt, hams at US$63.26 per cwt were down US$10.49 per cwt and bellies at US$75.78 per cwt were up US$3.24 per cwt as compared last week.

Live hog prices late last week were US$1-US$3 per cwt higher compared to a week earlier. Weighted average negotiated carcass prices Friday morning were US$2.12 per cwt higher to US$1 per cwt lower compared to last week.