US pork exports rose +4.7% from February into March, holding +2.1% above year-ago levels and are up +8.0% compared to last YTD. The top three destinations for US pork in 2024 have been Mexico, Japan and South Korea. US pork to Mexico fell -10.0% in March and is -12.6% under year-ago levels, while those to Japan rose +16.4% on the month but is -0.5% under last year, and South Korea surged +31.8% from February and is +47.1% higher compared to the same month last year. Pork imports for the same period rose +8.5% and were +6.3% over a year earlier, bringing year-to-date imports up +4.9% compared to the same months in 2023. Canada is the most notable provider of foreign pork to the US, with the latest pork imports from Canada up +1.6% in March though -5.1% under a year earlier.
US beef and veal exports increased +4.9% for March, however fell -10.4% from year-ago levels and are -5.9% compared to last YTD. The top three destinations for US beef & veal in 2024 have been Mexico, South Korea and China (Taiwan). Beef and veal to Mexico rose +7.8% from last reported however are -5.1% under a year earlier, while those to South Korea jumped +23.6% in March though are -13.7% under the same month in 2023, and China (Taiwan) increased +3.8% on the month but is -7.5% compared to last year. Beef and veal imports for the same period fell -3.0% on the month however were up +10.6% over a year earlier. Year-to-date imports are up +25.0% compared to the same months in 2023. The top three countries for 2024 that supply beef and veal to the US are Canada, Brazil & Australia. Imports from Canada increased +16.7% in March and are up +20.2% from a year earlier. Beef and veal imports from Brazil dropped -40.1% from February levels and are -26.6% under March 2023, while Australia fell -7.9% on the month however is +117.2% over last year.
US broiler exports increased +2.1% for March, however are -11.8% under last year and -8.5% lower than last YTD. The top destination for US broilers in 2024 has been Mexico, which reportedly decreased -10.2% in March and is -10.7% under last year. Broiler imports for the same period rose +9.4% however were -2.4% under last year, bringing year-to-date imports up +16.0% compared to the same months in 2023. Two notable countries that supply broilers to the US are Chile & Canada. Imports from Chile rose +14.6% in March and are up +0.7% from a year earlier, while those from Canada slipped -2.3% on the month and were down -9.7% under a year earlier.
