December 31, 2008
USDA cuts pork export forecasts
USDA pork export forecasts for the last quarter of 2008 and for 2009 were reduced due to lower third-quarter exports and slower economic growth next year.
Exports in the last quarter of 2008 were lowered by 200 million pounds to 1.1 billion pounds, 20-percent higher than last year.
Pork export forecast for 2009 was lowered by 400 million pounds to 4.1 billion pounds, 14-percent below 2008.
In the first 10 months of 2008, the top five export destinations for US pork were Japan, Mexico, Hong Kong, Russia, and China.
Although still in the top five on a cumulative basis, China's monthly exports have been year-over-year lower since August 2008, coinciding with its improved herd health situation and the end of the Olympic Games.
Japan continues to be the most important export destination for US pork.