Things to Consider… The latest data for Canadian domestic pork exports reflected December at 120.5 thousand MT, up +5.2% from the previous month and -2.5% under a year earlier. Pork export values for December improved +3.1% from Nov and +6.0% compared to a year earlier. Total swine carcass and cut exports were up +6.3% to 74.5 thousand MT, bringing current exports –3.9% under last year. Overall values climbed +2.9% on the month and were up +5.5% compared to the previous December. For perspective, the latest value per unit of $4.31/KGM declined -3.2% from a month earlier and is +9.8% over a year earlier. Ham exports fell –17.7% from November levels to 18.5 thousand MT, bringing them –6.9% under last year, while the values of these exports were down –12% on the month but +0.8% over year-ago values. For perspective, the latest value per unit at $3.75/KGM improved +6.9% from Nov and +8.2% over last year. Belly exports increased +18.2% to 1,450 MT in the latest data, bringing current exports –13.4% under last year. Belly export values rose +11.6% on the month and were +18% over year-ago values. For perspective, the latest value per unit at $10.27/KGM were down -5.6% from November but up +36.3% higher compared to last year. Pork shoulder exports dropped -76.7% for December to 26.9 MT, bringing them -45.7% under last year, and values were down comparatively. For perspective, values per unit at $8.77/KGM fell -3.3% on the month and were -0.8% under last year. Edible swine offal exports rose +48.2% in December to 16.7 thousand MT, bringing them +6.2% over last year. For perspective, swine offal values per unit of $2.59 /KGM fell -1% from Nov but up +10.3% over last year. For reference, Canadian pork production in 2024 was down -1.1% compared to the previous year of 2023. Notably, the percentage of Canadian pork production exported globally was estimated at 73% for December, compared to the 12-month average of 65%, and 19.6% went to the US in Dec compared to the 18% 12-month average. |