The latest monthly US livestock and meat trade data recorded pork exports at 582.8 million pounds, up 33.6m pounds from September. The month-over-month rise in US pork exports reflects a surge in increased quantities sent to Mexico, China and South Korea, at a time when they typically reduce their imports of US pork. Current pork exports for Oct are up 10.6m pounds from a year earlier, bringing them 259.3m pounds or +4.7% over last year-to-date.
US pork to Mexico climbed 17.4m pounds from previously reported monthly numbers, with current exports -10.4m pounds below a year earlier but 98.0m above last year-to-date. US pork to China* (including Hong Kong & Taiwan) was up 5.8m pounds overall from Sep quantities and is 17.0m pounds above a year earlier and 107.6m pounds under last year-to-date. US pork to Colombia decreased 2.1m pounds from last year and is -1.0m pounds below last year-to-date and a significant 77.6m pounds (36%) over last year-to-date.
Strong year to date exports (+4.7%) have been a significant underlying support factor for pork cutout and resulting US cash hog bids. Expectations are for pork exports to continue strong into the end of the year based on current weekly reported commitments.
