January 20, 2015

 

US pork exports down 20% in November

 

 

US pork exports in November decreased by almost 20% to $551.7 million compared with the previous year, apparently due to lower demand after a high death loss from the porcine epidemic diarrhoea virus (PEDv) made US pork prices uncompetitive in the world market.

 

Other possible causes for the export decline include foreign "overbuying" of US pork in the early part of 2014 in anticipation of reduced availability later in 2014 due to PEDv; and the strong dollar, which makes foreign products more competitive in the US. US imports of pork in November were, in fact, about 10% higher than imports a year before.

 

Despite the lower export demand, domestic pork demand was up 7.1% in the same month.

 

Meanwhile, the US Department of Agriculture's World Agricultural Supply and Demand Estimates (Wasde) said pork production this year is expected to be higher by 4.6% than in 2014, exceeding beef production--by 65 million pounds--for the first time since 1952.

 

US pork exports this year are expected to reach $8 billion, or 8.4% more than in 2014, while imports are expected to be $1.4 billion, or almost 10% less than last year, when PEDv reduced pork production.

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