U.S. pork exports set another monthly volume record in November, according to statistics released by USDA and compiled by the U.S. Meat Export Federation, which helped offset record-high production and provide a significant boost to pork cutout values.
Exports totaled 217,080 metric tons valued at $597.85 million - up 22.5% and 35%, respectively, over November 2010. This boosted the January-November volume total to 2.04 million metric tons (up 18% year-over-year) and the value total to $5.526 billion (up 27%). This puts U.S. pork export value, which had never reached $5 billion before this year, on pace to approach the $6 billion mark in 2011.
November pork exports equated to nearly 29% of total production (including variety meat). In terms of muscle cuts only, exports still totaled 24% of total production. Export value per head slaughtered set a new monthly record at $59.98, which was $15 higher than a year ago.
For January through November, the percentage of total production exported equated to 27%, or 23% when including only muscle cuts. This compares to 23.7% and 19% for the same period in 2010. Export value for the year averaged $55.21 per head, compared to $43.72 per head a year ago.
November beef exports also performed well, reaching 105,268 metric tons valued at $456.25 million. This was steady with the October 2011 volume and up slightly in value. On a year-over-year basis, November exports were up 4% in volume and 17% higher in value from the very strong totals recorded in November 2010.
This boosted the January-November export total 22% higher in volume than a year ago to 1.179 million metric tons, and up 35% in value to $4.944 billion. When December results become available, beef export value will eclipse the $5 billion mark for the first time ever.
Beef export value nearly $220 per head in November, more than $200 for 2011
November beef exports equated to 14% of total production when including variety meat, or 11% for muscle cuts only.
This was consistent with the 2011 average but up significantly from the 2010 ratios of 11.7% for total production and 9 percent for muscle cuts. November exports equated to $219.73 per head of fed slaughter, up $41.50 from a year ago. For January-November, export value averaged $204.27 per head - more than $50 higher than the previous year's average.