November pork exports totaled 258,601 metric tons (mt), up 5% from a 12 months in the past and the best in six months. Export worth was up 2% to $737.4 million, the best since Could 2021 and the seventh highest on report. For January via November, exports totaled 2.64 million mt, up 8% from a 12 months in the past, valued at $7.39 billion (up 5%).

November pork exports to main market Mexico set a price report at $221.3 million, up 5% from the massive complete posted a 12 months in the past. Export quantity (100,313 mt) elevated 14% and was the second largest on report, trailing solely October 2023. Even with new suppliers to Mexico, the U.S. share of Mexico’s imported pork market elevated in 2023, reaching 84%.

Led by excellent progress in Honduras, Guatemala, and El Salvador, pork exports to Central America set month-to-month quantity and worth data in November. Shipments elevated 35% from a 12 months in the past to 16,565 mt, whereas worth surged 37% to $51.3 million.

November pork exports to Colombia set a price report at $34.3 million, up 59% from a 12 months in the past, whereas November quantity was the second largest on report at 12,148 mt (up 46%). The report efficiency in Colombia and sturdy progress in Chile and Peru pushed November pork exports to South America to the most important ranges in two years. Shipments elevated 55% from a 12 months in the past to fifteen,056 mt, the sixth largest on report, whereas worth jumped 58% to $43.2 million, the third highest on report. Exports to Chile had been the most important in 11 years and exports to Peru had been the most important since June.

Though November pork exports to the Dominican Republic had been barely beneath the massive totals posted in 2022, month-to-month exports nonetheless surpassed 10,000 mt for simply the fifth time.

November was a superb month for pork exports to South Korea, growing 19% from a 12 months in the past to 17,406 mt, whereas worth was up 18% to $57.7 million. The U.S. share of Korea’s imports elevated from 26% to 32%, because the European Union’s market share declined.

Pork exports to Oceania made a formidable rebound in 2023 and this pattern continued in November, with shipments practically tripling from a 12 months in the past to six,414 mt (up 186%), whereas worth elevated 128% to $23.3 million.

November pork exports to Japan had been regular with the earlier 12 months at 26,890 mt, whereas worth elevated barely to $111.6 million.

Pork exports to China/Hong Kong, that are primarily selection meat, trended considerably decrease in November, pushing January-November shipments 4% beneath the earlier 12 months’s tempo at 466,511 mt, whereas worth fell 6% to $1.18 billion.

January 10, 2024/ USMEF/ United States.
https://www.usmef.org