Exports fall from the US and Canada
US pork exports for the first nine months of 2015 declined by less than 1% year on year to 1.1 million tonnes. Canadian pork exports recorded a larger fall of 4% year on year in the first nine months of 2015, to 620,000 tonnes.
The decrease in US exports, of 42,000 tonnes, comes as a surprise given its pork production is running 8% higher after the continued recovery from PEDv, leading to the expectation that exports would rise. However, the strong US dollar has hindered growth. Higher volumes of pork exported in the second and third quarter of 2015 offset the much lower figures recorded at the beginning of the year, resulting in the overall small decline. Mexico retained its position as the largest market for US pork, with exports to the country rising by 10%. The Asian market became unbalanced for the US, with shipments to both Japan and China during the months of January to September down on the previous year, by 4% and 22% respectively. In contrast, trade to South Korea significantly increased, ahead by 40%. Unit prices of pork have trended below last year’s levels throughout 2015, leaving the total value of pork exports at just over $3billion, down by 18%.
Canadian exports have declined throughout the year, with the lowest volumes being seen in the third quarter. The US remained the dominant destination for Canadian pork, taking nearly 19% more than the same time period in 2015, whilst Mexico also recorded an increase of 34%. Volumes destined for Japan and China declined by 6% and 24% in turn, whilst trade with Russia ceased altogether as sanctions remain in place. In line with the US, the total value of Canadian exports for the first three quarters of 2015 fell by 15% to just under C$2 billion.