The latest US livestock and meat trade data reflected total US pork exports at 544.2 million pounds for March, up 57.9 million pounds from February levels in a generally seasonal move and brought US pork trade 184.7 million pounds under last year. Notably, year-ago levels represent the historical monthly high with March 2021 recorded at 728.8 million pounds. It's worth noting that current US export levels continue more in line with recorded pre-pandemic levels.
Most destinations for US pork reported increased amounts for the month of March. US pork to Mexico recorded the largest increase on the latest report, rising 22.8 million pounds and continues among the highest monthly level recorded historically. For perspective current export levels to Mexico accounted for 37.4% of total US pork exports, compared to the 12-month average of 32.7%. US pork to Canada rose 12.1 million pounds, however represents a 4-year low for the month of March. Other destinations such as Honduras, Dominican Republic, and South Korea increased their imports of US pork around 4-6 million pounds. Volume to Honduras reached a new historical high at 15.6 million pounds, surpassing the previous highs recorded in March and November of last year. The Dominican Republic also reached a new historical high, at 20.9 million pounds and surpassing the previous high recorded in March 2021, while US pork to South Korea continues below typical seasonal levels. Pork to China* (including Hong Kong and Taiwan) climbed 2.1 million pounds with much of this increase attributed to the mainland. Notably the portion of total US pork exports to China* averaged 8.2% for March, down from the 13.8% for the 12-month average.
Australia decreased imports of US pork by 1.4 million pounds in March and continues among the lowest recorded historically. Japan slipped 499 thousand pounds on the latest report and continues at more typical pre-pandemic seasonal levels.
Total US pork imports for March rose 16.2 million pounds or +13.9%, bringing current imports 41.8 million pounds or +45.9% above year-ago levels. Imports from Canada increased 10.2 million pounds or +13.8%, bringing US imports from Canada 24.3 million pounds or +40.8% over year-ago levels. Imports from Mexico increased 2.1 million pounds or +20.5% from February and are up 4.6 million pounds or +61.2% over last year. Notably, the US imported 34.1 million pounds more pork from Canada than it exported to the country for the month of March.
