Things to Consider…. The latest data for Canadian domestic pork exports reflected May at 107.7 thousand MT, down –16.0% from the previous month and -12.1% under last year. Overall, pork export values for the same period fell –9.8% from April and is –1.0% under a year earlier.
Total swine carcass and cut exports fell –11.1% to 68.2 thousand MT, bringing current exports –4.5% lower on the year. Overall values fell –9.3% on the month but continue significantly strong compared to year-ago values, up +10.9% over 2023. For perspective, the latest value per unit of $4.22/KGM increased +2.1% from a month earlier and is +16.1% over last year.
Ham exports dropped –27.3% from April levels to 19.6 thousand MT, bringing them –20.7% under last year, while the values of these exports were down –9.9% on the month and –19.3% under year-ago values. For perspective, the latest value per unit at $3.44/KGM surged +24.0% from April and is +1.7% over last year.
Belly exports increased +18.2% to 17.2 thousand MT in the latest data, bringing current exports –11.9% under last year. Belly export values rose +21.3% on the month and are +13.2% over last year. For perspective, the latest value per unit at $8.00/KGM were up +2.6% from April and is +28.6% higher compared to last year.
Pork shoulder exports surged +109.6% for May to 63.2 MT, bringing them +82.7% over last year. For perspective, values per unit at $8.25/KGM edged +0.3% higher on the month but are –17.4% under last year.
Edible swine offal exports dropped –27.8% into May to 9.7 thousand MT, bringing them –27.8% under a year earlier. For perspective, swine offal values per unit of $2.57/KGM increased +6.5% from April and is –3.9% under last year.
For reference, Canadian pork production is estimated to be +20.0% higher from April into May, and +1.3% over last year-to-date. Notably, the percentage of Canadian pork production exported globally is estimated at 50.9% for May, compared to the 12-month average of 63.1%. |