Things to Consider…. The latest US livestock and meat trade data recorded total US pork exports up 39.7 million pounds or +7.4% from previously reported, which is down 52.2 million pounds or -8.3% from the highs last year. US pork to Japan increased the most during November, rising 13.3 million pounds, followed by South Korea and Mexico which were up 11.7 and 11.2 million pounds respectively. Notably, Mexico reached a new historical high, surpassing the previous high reached a month earlier. US pork to Colombia rose 8.1 million pounds—also reaching new historical high, while other destinations such as Honduras, Canada and the Dominican Republic were each up 3-5 million pounds. US pork to Canada accounted for 8.9% of the total monthly US export volume for November, which is +0.8% above the 12-month average. Tempering some of these increases were lessened volumes of US pork to destinations such as China*, Australia and the Philippines. Pork to mainland China fell 4.7 million pounds while Hong Kong slipped 540 thousand pounds and Taiwan edged 46 thousand pounds lower in November for an adjusted China* decline of 5.3 million pounds or -10.0% from October. Australia also declined 5.3 million pounds for November, while the Philippines fell 4.5 million pounds. Total US pork imports reached a new historical high at 132.0 million, surpassing the previous high recorded in October at 115.6 million pounds. Imports from Canada climbed 6.5 million pounds or +8.8% for November, bringing US imports from Canada 27.0 million pounds or +50.1% over year ago levels, while imports from Mexico slipped 379 thousand pounds or -3.0% for November which is up 4.9 million pounds or +65.8% over last year. Notably, the US imported 29.0 million pounds more pork from Canada than it exported to the country for the month of November. 
|