April 10, 2013

Lower demand in Mexico, Japan slow US pork exports in February

February continued the trend set at the end of 2012 for US pork exports with a continued slight decline for pork of 8% in volume and 7% in value, according to statistics released by USDA and compiled by the US Meat Export Federation (USMEF).

US pork exports through February totalled 365,191 tonnes valued at just under US$1.02 billion - down 8% in volume and 7% in value from a year ago.  Pork export value in February averaged US$57.56 per head, down slightly from last year's US$58.17. (January-February export value averaged US$54.89, down 6% from a year ago.) Pork exports in February equated to 22% of muscle cut production and 27.9% when adding variety meats. This compares to 24% and 27.7%, respectively, in February 2012.

Value leader Japan also saw lower results, falling 11% in volume (71,248 tonnes) and 6% in value (US$320.1 million).

Exports to the China/Hong Kong region were relatively steady, falling 2% in volume (76,402 tonnes) but increasing 1% in value (US$160.4 million). Exports to Canada were slightly ahead of last year's pace in both volume (37,339 tonnes, an increase of 2%) and value (US$130.6 million, an increase of 1%).

Markets performing well above year-ago levels through February included: Philippines, with 7,851 tonnes (42% increase) valued at US$18.3 million (32% increase); Colombia, with 3,598 tonnes (62 increase) valued at US$9.2 million (51% increase); Honduras, with 3,559 tonnes (17%) valued at US$8.7 million (24% increase).

The impact of Russia's ractopamine restrictions was not as dramatic for pork, though exports through February were down 15% in volume (7,037 tonnes) and 16% in value (US$21.1 million). Demand in South Korea continues to be hampered by sluggish consumer spending and a surge in domestic meat production, as exports through February fell 30% in volume (25,540 tonnes) and 32% in value (US$70.7 million) compared to a year ago.