Tough Week for Exports; Net Sales Show Signs of Rebound
Pork exports for the week of May 15-21 totaled 34,500 mt, down 31% from the previous week’s record volume and 11% below the previous four-week average. Exports were higher to Mexico (8,440 mt, +4%), Canada (1,780 mt, +22%), Colombia (700 mt, +30% and the highest since March), Taiwan (550 mt, +32%), Vietnam (380 mt, +46%), the Philippines (370 mt, +223% and the highest since March), Honduras (310 mt, +44%) and Albania (80 mt, +144%), but exports trended lower to China (15,160 mt, -14%), Japan (2,840 mt, -36%), South Korea (1,980 mt, -38%), Australia (740 mt, -1%), Chile (170 mt, -46%), the Dominican Republic (160 mt, -54%) and Hong Kong (60 mt, -63%).
Following the previous week’s corrections, pork net sales rebounded to 20,600 mt, led by the highest sales since mid-April to Mexico (9,010 mt, +151%) and Canada (2,170 mt, +235%). Sales to China (6,080 mt) were positive following a week of corrections, and sales increased to Albania (430 mt, up from zero the previous four weeks and the highest since November 2018 when excluding catch-up reporting). Sales were positive for the second week following a week of corrections for Korea (150 mt), Taiwan (10 mt), the Philippines (10 mt) and Colombia (5 mt), and for the third week following a week of corrections for the Dominican Republic (80 mt). Sales to Chile (80 mt) were positive following three weeks of corrections. Sales slowed to Japan (2,160 mt, -6%), Vietnam (170 mt, -27%), Honduras (50 mt, -68%) and Hong Kong (30 mt, -84%), and corrections resulted in negative net sales to Australia (-30 mt).
Beef exports totaled 11,300 mt, up 3% from the previous week but still 10% below the previous four-week average. Exports were higher to Japan (4,510 mt, +13%) and steady to Hong Kong (1,250 mt), but trended lower to Korea (3,060 mt, -16%), Taiwan (880 mt, -7%), Canada (380 mt, -69%), Mexico (330 mt, -12%) and China (230 mt, -28%).
Beef net sales were the highest since early April at 11,500 mt, up noticeably from the previous week and from the previous four-week average. Sales to China (1,560 mt, +124%) were the largest since the market reopened and sales also increased to Korea (5,430 mt, +745% and the highest since the beginning of April), Japan (2,950 mt, +54% and the highest since mid-April), and Hong Kong (500 mt, +3%). Sales were positive to Taiwan (570 mt) and Canada (500 mt) following a week of corrections, but corrections resulted in negative net sales for Mexico (-270 mt, the fourth consecutive week of corrections) and Chile (-100 mt).
- Source: USDA/FAS (includes exports and sales of whole muscle cuts).
- Percent change is compared to the previous four-week average, unless otherwise noted.
- Export is defined as an actual shipment from the U.S. to a foreign country.
- Export sale is defined as a transaction entered into between a reporting exporter and a foreign buyer. Sales can be cancelled or adjusted in following weeks, thus “net” sales are reported as the difference between new sales and any cancellations or adjustments.
- Due to the lapse in federal funding, a combined report was released for the six weeks from Jan. 10-Feb. 14, 2019. Averages are used for the weekly exports and weekly net sales for those weeks.