US: June pork exports are lower, but some bright spots exist

Published 2024년 8월 14일

Tridge summary

US pork exports to Mexico saw a slight decrease in volume but an increase in value in June, due to a surge in domestic hog prices in Mexico and a suspension of Brazilian poultry imports. Exports to Korea experienced a significant increase in both volume and value, leading to a higher US market share in Korea's imported pork market. Meanwhile, pork exports to Central America, particularly Honduras and Costa Rica, also saw an increase in value despite a slight increase in volume. Overall, the first half of the year saw a notable growth in exports to Mexico, Korea, and Central America in both volume and value.

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

Original content

US pork exports to leading market Mexico cooled modestly in June, with volume down 3% from a year ago to 83,007 mt, according to a recent market report from USMEF. But export value still edged higher, increasing 4% to $187.4 million. January-June exports to Mexico remained well ahead of last year’s record pace, up 6% in volume (563,200 mt) and jumping 13% in value to $1.2 billion. Mexico’s domestic hog price surged last month, and weekly export data suggest US pork exports to Mexico also accelerated in July. Mexico suspended imports of all Brazilian poultry in mid-July following a finding of Newcastle virus, which contributed to high poultry and turkey prices in the market. In early August, Mexico resumed imports of Brazilian poultry from all states except Rio Grande do Sul. Korea’s demand for US pork remained very robust in June, with exports climbing 20% from a year ago to 17,327 mt, while export value increased 30% to $64.2 million. January-June exports to Korea soared 33% ...

Source: Thepigsite