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U.S. pork exports reached 241,210 mt in July, up 10% from a year ago. Export value jumped 13% to $710.5 million, fueled in part by a record $244.5 million for leading market Mexico. Through the first seven months of 2024, pork exports were 4% above last year at 1.76 million mt. Export value was just under $5 billion – up 6% from a year ago, when pork exports set an annual value record of $8.16 billion.
After softening modestly in June, pork exports to leading market Mexico roared back in July at $244.5 million – up 29% from a year ago and the highest on record. Export volume was also outstanding, climbing 24% to 100,577 mt. January-July exports are on a record pace, climbing 8% above last year at 663,777 mt, while export value jumped 15% to $1.45 billion. Mexico’s hog price surged in July and limited domestic availability contributed to the large increase in demand for U.S. pork.
Pork exports to Colombia are also on a record pace, with July shipments climbing 11% from a year ago to 8,570 mt, valued at $24.8 million (up 16%).
Led by an exceptionally strong year-over-year increase in Honduras, July pork exports to Central America climbed 18% to 10,790 mt, valued at $34.9 million (up 28%).
A rebound in the Dominican Republic and newfound demand in Cuba pushed July pork exports to the Caribbean to 9,247 mt, up 47% from a year ago, while value climbed 51% to $29.5 million.
July pork exports to South Korea totaled 13,674 mt, up 16% from a year ago but the lowest volume of 2024. Export value reached $49.3 million, up 30%. Pork shipments to Korea are poised to set annual records in 2024.
While pork exports to China/Hong Kong are running well below last year’s pace, the region remains the leading export destination for U.S. pork variety meat. Through July, variety meat shipments totaled 187,954 mt, down 6% from a year ago, while value fell 16% to $444.4 million.
September 5, 2024/ USMEF/ United States.
https://www.usmef.org
