Agricultural News
U.S. Pork Exports Up 10 Percent to $6.67 Billion In 2014
Fri, 06 Mar 2015 12:10:26 CST
For the fourth year in a row, U.S. pork exports eclipsed the $6 billion mark. In 2014, 4.803 billion bounds of pork and pork variety meats valued at $6.674 billion were exported, up 2 percent and 10 percent, respectively from 2013.
"We saw a dynamic environment for U.S. pork exports last year," said Brian Zimmerman, chair of the Pork Checkoff's Trade Committee and a Beatrice, Neb., producer. "Our strong global partnerships and rising demand across the globe for our product meant that despite record prices, we continued to see growing revenue from exports. However, our exporters dealt with many trials, as it was a highly competitive market."
In 2014, 26.5 percent of U.S. pork and pork variety meat were exported adding $62.45 per hog marketed. Strong pork variety meat demand around the world continues to increase exports and positively impact producer profitability. For every $1 million of pork variety meats exported, the live value of hogs increased by $0.20 per cwt, according to a regression analysis conducted by Iowa State University.
"While 2014 exports remained strong, the industry faced many challenges, such as market closures, increasing competition, export port issues, a high-valued U.S. dollar and global trade shifts," said Becca Hendricks, vice president of international marketing for the Checkoff. "Checkoff resources were extremely important in monitoring and reacting to situations to allow for continuous trade."
During 2014, more than 100 countries around the world imported U.S. pork.
-- The top five markets in total pounds of pork exported were: Mexico (1.501 billion pounds), Japan (1.033 billion pounds), China and Hong Kong (743.6 million pounds), Canada (457.2 million pounds) and Korea (298.5 million pounds).
-- The top five markets in total dollar value exported were: Japan ($1.932 billion), Mexico ($1.558 billion), Canada ($904.7 million) China and Hong Kong ($775.4 million) and Korea ($444.6 million).
The National Pork Board has responsibility for Checkoff-funded research, promotion and consumer information projects and for communicating with pork producers and the public. Through a legislative national Pork Checkoff, pork producers invest $0.40 for each $100 value of hogs sold. Importers of pork products contribute a like amount, based on a formula. The Pork Checkoff funds national and state programs in advertising, consumer information, retail and foodservice marketing, export market promotion, production improvement, science and technology, swine health, pork safety and sustainability and environmental management.
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