Robust October performance keeps US pork exports on record pace – USMEF

Pork exports to leading market Mexico have reached new heights in 2024 but trended modestly lower in October, falling 2% from a year ago in both volume (98,728 mt) and value ($216.5 million), according to data released by USDA and compiled by the US Meat Export Federation (USMEF).

Through the first 10 months of the year, exports to Mexico were still 6% above last year’s record pace at 948,932 mt, valued at $2.1 billion (up 11%).

This marks the third consecutive year that pork export value to Mexico has topped $2 billion and the earliest it has surpassed this milestone. Pork exports to Mexico are expected to surpass $2.5 billion this year, more than doubling in value since 2020. As the dominant destination for US bone-in hams, Mexico currently accounts for 10.6% of US pork muscle cut production.

Led by impressive growth in leading market Honduras and a sharp increase in demand in Costa Rica, pork exports to Central America are also on a record pace in 2024. October exports to the region totalled 14,601 mt, up 6% from a year ago, while value increased 11% to $46.9 million. These results pushed January-October shipments 21% above last year’s pace to 124,235 mt, while value soared 30% to $390.9 million.

October pork exports to the Caribbean climbed 24% from a year ago in both volume (13,111 mt) and value ($39.2 million), led by growth in the Dominican Republic, Cuba and Trinidad and Tobago. January-October exports to the region totalled 103,902 mt, up 6% from a year ago, while value was up 9% to $307.8 million.

Tags: exports, US Meat Export Federation, Market, USMEF, рork, Mexico