May 17, 2021

Mexico's pork production increases 1.8% in January-March 2021

Mexico's pork production has seen good performance with production increasing from 396,100 tonnes in the January-March 2020 period to 403,400 tonnes in the same period this year, representing a 1.8% increase or 7,300 tonnes.

Another positive performance indicator is pork exports with 76,500 tonnes in the first quarter of 2021, up 18,800 tonnes, representing an increase of 32.6% compared to the first quarter of the previous year.

In contrast, imports showed a drop of 2.4%, down 7,300 tonnes from 301,800 tonnes in the first quarter of 2020 to 294,500 tonnes in the first quarter of 2021.

The increase in exports, together with the decrease in imports, generates a negative effect on consumption, which is reflected in a 2.3% (18,800 tonnes) drop between the two periods of the years compared, going from 640,200 tonnes in 2020 to 621,400 tonnes in 2021.

The price of live hogs remains stable (MX$31.5/kg, or US$1.58), with a slight drop of 0.2%, which represents a variation of less than one decimal place in this figure.

On the other hand, the carcass price shows a considerable drop of 16.3%, which means that it went from MX$53.2/kg (US$2.67) in the first quarter of 2020 to MX$44.5/kg (US$2.23) in the same period of 2021, while the price of exported pork saw a drop of 3.4%.

The economic forecasts for Mexico's swine farming this year are positive according to Grupo Consultor de Mercados Agrícolas, with increases of 3.5% and 10% in production and export figures respectively, allowing an increase in consumption calculated at 3.4% which includes imports with an increase of 5% compared to 2020.

- Pig333 Staff / Grupo Consultor de Mercados Agrícolas