US pork exports hit marketing year low
Published Apr 15, 2021
Tridge summary
USDA: Pork Export Sales at Marketing Year Low, China Stops Purchasing U.S. Pork 📉
Highlights:
- USDA reports a decrease in export sales of various agricultural products for the second week in a row, following a high during the week of March 25th.
- Pork exports have hit a marketing year low due to China's absence in purchases.
- Wheat, corn, soybeans, cotton, and rice also experienced a decline in old crop sales.
- Sorghum sales surged due to strong demand from China.
- Wheat, corn, and sorghum shipments exceeded projections for the current marketing year.
- Wheat, corn, and soybean sales for the 2021/22 delivery were mainly to unknown destinations and Philippines, China, and Mexico, respectively.
- Sorghum exports to China and unknown destinations increased significantly.
- Net beef sales were reported as 1% higher than the previous week, mainly to South Korea, Japan, China, and Mexico.
- Net pork sales saw a 2% decrease from the four-week average, primarily to China, Mexico, Japan, South Korea, and the Philippines.
Highlights:
- USDA reports a decrease in export sales of various agricultural products for the second week in a row, following a high during the week of March 25th.
- Pork exports have hit a marketing year low due to China's absence in purchases.
- Wheat, corn, soybeans, cotton, and rice also experienced a decline in old crop sales.
- Sorghum sales surged due to strong demand from China.
- Wheat, corn, and sorghum shipments exceeded projections for the current marketing year.
- Wheat, corn, and soybean sales for the 2021/22 delivery were mainly to unknown destinations and Philippines, China, and Mexico, respectively.
- Sorghum exports to China and unknown destinations increased significantly.
- Net beef sales were reported as 1% higher than the previous week, mainly to South Korea, Japan, China, and Mexico.
- Net pork sales saw a 2% decrease from the four-week average, primarily to China, Mexico, Japan, South Korea, and the Philippines.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The USDA says pork export sales during the week ending April 8th were a marketing year low. China didn’t buy any U.S. pork last week and overall sales dipped for the second week in a row following a marketing year high during the week ending March 25th. Old crop soybean products and wheat hit marketing year lows, that’s the second consecutive marketing year low for wheat, while old crop sales also declined for beef, corn, soybeans, cotton, and rice. Old crop sorghum hit a marketing year high thanks to strong demand from China and also saw solid new crop sales. The USDA’s next set of supply and estimates is out May 12th.Physical shipments of beans, corn, and sorghum were more than what’s needed to meet USDA projections for the current marketing year. The 2020/21 marketing year started June 1st, 2020 for wheat, August 1st, 2020 for cotton and rice, September 1st, 2020 for beans, corn, and sorghum, and October 1st for soybean products. The calendar year is the marketing year for beef ...
Source: Brownfield Ag
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