November Pork Exports Set Record

U.S. pork exports set a monthly volume record in November, helping overall U.S. red meat exports build momentum. Both beef and pork exports were 20 percent higher than last year in both volume and value. Statistics compiled by the U.S. Meat Export Federation show that November pork exports totaled 225,757 metric tons, up 24 percent year-over-year and breaking the previous record set in 2012. Export value was just shy of $587 million, 30% higher than a year ago and the highest level since May of 2014. Pork export volume was up 7 percent from January to November, compared to a year ago. U.S. pork production is reaching record levels but exports are still accounting for a larger share of the production. November exports accounted for 28 percent of total production and 23 percent of muscle cuts, a substantial jump from last year. November was also a good month for beef exports, which totaled 155,355 metric tons, up 20 percent year-over-year and the largest amount since July of 2013. Beef export value totaled just over $619 million dollars, up 21 percent, and the highest amount since December of 2014. USMEF President and CEO Phillip Seng says, “With recent increases in both pork and beef production, the U.S. industry faces a significant challenge in terms of moving these larger supplies. This also represents a significant opportunity to grow our market share in established markets and develop new ones.”