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 (USMEF), which helped offset record-high production and provide a significant boost to pork cutout values.
Pork exports totaled 217,080 metric tons (MT) in November, 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 MT (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 beef exports also performed well, reaching 105,268 MT 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 percent higher in volume than a year ago to 1.179 million MT, 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.