Largest pork exports since 2014

October pork exports totaled 201,936 metric tons (mt), up 14% year-over-year and the largest monthly volume since March 2014. Export value was $521.1 mill., up 16%. For January through October, export volume was 6% above last year’s pace at 1.86 mill. mt, while export value was up 3% to $4.79 bn.

Exports accounted for 25.5% of total pork production in October and 21% for muscle cuts only. For January-October, exports accounted for 25% of total production – up a full percentage point from a year ago – and 21% for muscle cuts, up slightly. Export value per head slaughtered averaged $47 in October, up 8% year-over-year, while January-October export value averaged $49, steady with the same period last year.

October beef export volume was 105,938 mt, up 12% from a year ago, while export value climbed 10% to $559.5 mill. For January through October, export volume was up 9% from a year ago at 954,868 mt, while value was down 3% to $5.1 bn. Beef muscle cut exports were especially strong in October at 75,903 mt – the largest volume in two years.

Beef exports accounted for 14% of total production in October and 11% for muscle cuts only. January-October ratios were just over 13% and 10%, respectively – up slightly from the same period last year. Export value per head of fed slaughter averaged $269.35 in October, up 5% year-over-year. Through the first 10 months of 2016, export value averaged $254.71 per head, down 8%.

Pork exports to Mexico remained strong in October, increasing 9% from a year ago in volume (65,271 mt) and 6% in value ($115.2 mill.). For January through October, exports to Mexico pulled within 2% of last year’s record pace in volume (576,008 mt) and remained 1% higher in value ($1.05 bn).

Pork exports to leading value market Japan were also strong in October, increasing 4% from a year ago in volume (30,987 mt) and 9% in value ($127.9 mill.). Through the first 10 months of the year, exports to Japan were 7% below last year’s pace in volume (320,491 mt) and 4% lower in value ($1.29 bn). Chilled pork exports to Japan remained on a record pace through October, totaling 180,793 mt, up 9% year-over-year.

Pork muscle cut exports to China/Hong Kong continued to moderate in October, reflecting a rebound in China’s domestic pork production, but variety meat exports to the region remained strong. For January through October, total pork/pork variety meat exports to China/Hong Kong were up 66% percent from a year ago in volume (450,257 mt) and 55% percent higher in value ($878.8 mill.).