August exports of US pork top year-ago totals

August pork exports were once again led by Mexico, where 2022 shipments remain on a record pace. Unlike many trading partner currencies, the Mexican peso has been remarkably stable, averaging just over 20 pesos to the dollar this year, remaining essentially steady with 2021, according to a report from the US National Pork Board.

Fuelled by strengthening demand for pork variety meat, pork exports to China/Hong Kong totaled 55,695 metric tons in August, up 14% from a year ago, while export value climbed 31% to $137.8 million.

Courtney Knupp, VP of international market development at NPB, said there is strong demand for variety meats globally this year.

“US pork can supply large volumes of variety meat, which adds significant value to the carcass,” Knupp said. “China, for example, has scaled back on total exports this year, but they’re buying variety meats and so are other countries in Southeast Asia and Latin America. This helps our bottom line because we don’t consume those products in the US.”

Overall, August pork export value equated to $60.04 per head slaughtered, up slightly from a year ago. The January-August average was $59.40 per head, down 9%.

NPB analyzes export data compared to the previous year and compared to the three-year and five-year average. The analysis is also segmented with and without China as a factor.

“If you look at the 3-year and the 5-year average, and take out China, we are up 6% in value and 1% in volume,” Knupp said. “This means we are successfully diversifying our market mix, and we are receiving more value per product. That’s why USu pig farmers invest in international market development — to create value for the products we send abroad.”

Tags: Mexico, shipments, Hong Kong, China, exports, pork, Meat