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Pork Exports Show Broad Gains in October

U.S. pork exports posted broad-based gains during October, solidifying 2020’s record pace. 

That’s according to USDA data compiled by the U.S. Meat Export Federation. 

Pork exports rose eight percent year-over-year to 242,536 metric tons, with the value also increasing eight percent to just over $641 million. 

Exports to Mexico, Japan, China/Hong Kong, Canada, and the Philippines were substantially higher than a year ago. 

Shipments to Central and South America were the largest they’ve been since March. 

October beef exports were down slightly from last year at 107,591 MT, a .4 percent drop. 

The October value was $646 million, down .5 percent. However, exports to China set another new record, and volumes were above year-ago levels to Japan, Taiwan, Central America, and Africa. 

“While the tight labor situation continues to limit the cut and variety meat specifications available for export, red meat demand is strengthening in many critical markets,” says USMEF President and CEO Dan Halstrom. 

“The U.S. industry is responding positively to many challenges, and the demand dynamics for red meat are quite strong as we approach the end of 2020.” 

Additionally, Halstrom says when the gains made at the retail level over the past several months are combined with a stronger foodservice industry recovery, the prospects for export growth are promising.

(Story Courtesy of the NAFB News Service)

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