US Exports Still Breaking Records 55% increase over export totals from February 2007. The future of the US is very bright if it turns into exporter juggernaut!
US Exports Still Breaking Records
US - Pork exports from the US in February reached 346 million pounds, or 156,969 metric tons that's a 55 per cent increase over export totals from February 2007, says the Pork Check-off and excellent news for an industry where crisis is looming.
According to US Meat Export Federation (USMEF ) statistics, the results for February have helped the US pork industry achieve its fifth consecutive month of record-breaking exports.
For January and February 2008, pork and pork variety meat exports were up 41 percent, totaling 671.6 million pounds, or 304,651 metric tons, valued at $685 million.
Export Reliance
"Producers will continue to rely on exports in these challenging times," said Tim Bierman, a pork producer from Larrabee, Iowa, and a member of both the National Pork Board and the Pork Checkoff Trade Committee. "One in every five pigs, about 20 percent, produced in the US was exported during these two months."
On a volume basis China/Hong Kong was the largest market for US Pork and pork variety meats for January and February 2008 with 164.7 million pounds or 74,745 metric tons. That is a 287 percent increase over the same time period in 2007. However, Japan remains No. 1 on a value basis at $210.9 million, or 31 percent of total pork and pork variety meat export value.
"Pork production is running 12 percent over last year, making it impossible to raise prices to cover the ever-increasing costs of production," said Erin Daley, USMEF manager of research and analysis. "Without pork exports, at these production rates the US market would have to absorb the equivalent of an additional 60,000 hogs per day, which would drive prices down significantly." |
