Things to Consider….
The latest data for Canadian domestic pork exports recorded September at 100.6 thousand MT, down –2.1% from the previous month and –5.4% under a year earlier. Overall, pork export values for the same period fell –2.7% from last reported and brings current export values –5.0% under last year.
Total swine carcass and cut exports climbed +1.5% for September to 64.8 thousand MT, bringing them down –11.0% on the year. Overall values slipped –0.2% on the month and –7.9% under year-ago values. For perspective, September’s value per unit of $3.89/KGM declined –1.6% from August but is +3.5% over last year.
Total ham exports fell –16.6% for September to 13.3 thousand MT, bringing them –6.1% under last year, while the values of these exports were down -15.6% on the month and –9.1% under year-ago values. For perspective, the latest value per unit at $3.84/KGM climbed +1.2% from August however fell –3.1% compared to last year.
Belly exports rose +6.1% to 1.9 thousand MT in the latest data, bringing current exports +3.4% over a year earlier, however the value of these exports were recorded lower. Bellies export values overall were down –1.1% from August and –10.2% under last year. For perspective, belly values per unit at $6.90/KGM dropped –6.8% from August and –13.2% under belly values last year.
Pork shoulder exports surged significantly higher than the month previous (which was notably considered low), up +168.4% from August and is up +100.0% over last year. The latest monthly pork shoulder exports at 105.3 MT is the highest recorded since August 2022 at 111.2 MT. Edible swine offal slipped –1.3% into September to 14.2 thousand MT, however is +54.5% over a year earlier with Sept/22 representing a 17-month low.
Notably, the percentage of Canadian pork production exported globally rose to 59.5% in September, compared to the 12-month average of 57.5%. The percentage of Canadian pork production exported to the United States at 18.3% is very near the 12-month average of 18.0%.