US pork exports could ramp up in the fourth quarter

Published 2024년 10월 28일

Tridge summary

US pork exports in August saw a 7.1% increase compared to the previous year, with shipments reaching 192,376 MT. This increase is largely due to a 6.6% rise in exports to Mexico and an 85% surge in exports to Colombia. Despite this, exports to Japan experienced a decline. The Pork Checkoff reports that while pork export shipments may have slowed in September, they are still expected to exceed last year’s levels. Additionally, the pork supply is not as plentiful as expected, with hog slaughter and weight gains slower than anticipated, leading to a tight pork market and increasing prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

US shipments of fresh, frozen, and cooked pork in August were estimated at 192,376 MT, marking a 7.1% increase compared to the previous year, according to a recent Pork Checkoff market report. This uptick follows a 14% rise in exports in July. Year-to-date, total US pork export shipments reached 1.6 million MT, representing a 5.2% increase from last year. Two markets significantly drove the increase in exports for August. Shipments to Mexico, the top market, totalled 82,139 MT, up 6.6% from a year ago, accounting for about 40% of the overall export increase. Surprisingly, shipments to Colombia surged by 85%, contributing an even larger share to the overall increase, despite Colombia being a small fraction of the Mexican market. In fact, in August, Colombia imported more pork than China. With Colombian authorities lifting some restrictions on US imports, we anticipate an increase in US pork and poultry exports to this market. Japan remains an important destination for US pork; ...

Source: Thepigsite