Pork Profit Maximizer – Food Service Edition
March pork exports were 538.1 million pounds on a carcass weight basis, 14.3 million (+2.7%) higher than a year ago. Exports to key markets such as Japan and Mexico were down in March but were offset by a sharp jump in shipments to South Korea. Mexico remains the top market for US pork, purchasing 150.4 million pounds, 4.2% less than a year ago.
Exports to Japan at 104.2 million pounds also declined 16 million pounds or 13.4% from a year ago. On the other hand, exports to South Korea were 87.7 million pounds, 25.5 million pounds (+41%) higher than last year. US pork production in Q1 increased 235 million pounds or 3.7%. Exports for the quarter were 1.516 million , 83.7 million pounds higher while pork imports at 279 million increased by 14.8 million. Adjusting for the positive trade balance, Q1 pork supply increased by 166 million pounds or 3.2% from a year ago.