Pork exports up by 95% amid world meat shortage
14/07/2008
Export sales continue to provide welcome news for the US beef and pork industries, with May pork sales setting the latest in a series of monthly records while beef exports reached their highest levels since December of 2003.
“The shortage in the global meat supply, combined with record pork production in the United States and the continued weak dollar are putting U.S. beef and pork in a very advantageous position in many export markets,” said Erin Daley, manager of research and analysis for the US Meat Export Federation (USMEF), on announcing the results.
She said China had emerged as a key market for US pork since the fourth quarter of last year since local pork production had declined.
“It’s not so much that consumption is up,” she explained. “Rather, production is down, and US pork remains undervalued.” Russia is the exception, however, where pork production is up, but not enough to keep pace with rising consumption.
The new monthly record for pork (including variety meat exports) was set at 196,118 tons (valued at nearly $452 million) in May. Export volume was up 95% compared to May 2007 and 12% more than the previous monthly record in April this year. This put January-May pork (including variety meat) exports at 825,800 tons, valued at $1.86 billion, up 60% and 51% respectively from the same period last year.
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