Economics

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Prairie Swine Centre is an affiliate of the University of Saskatchewan


Prairie Swine Centre is grateful for the assistance of the George Morris Centre in developing the economics portion of Pork Insight.

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Author(s): Western Hog Journal
Publication Date: July 14, 2011
Reference: Spring 2008

Summary:

The US pork industry achieved its 16th consecutive record-setting year of exports in 2007, according to statistics compiled by the US Meat Export Federation (USMEF). One of every four pounds of pork traded today originates from the US.

Overall, pork exports increased three percent in volume compared to 2006, surpassing 1.3 million metric tons, nearly 2.9 billion pounds. The value of those exports jumped 10 percent over 2006, exceeding $3.15 billion.

Japan remains the top destination and accounts for 36 percent of the value of all US pork exports. It imported 358,582 metric tons during 2007, valued at $1.152 billion and a six percent increase on the year. “US Pork is perceived as the highest quality product available,” said Greg Hanes, USMEF Japan director.

Mexico is the second highest importer of US pork and pork products although this market saw a 22 percent decline in imports during 2007.

China/Hong Kong was the largest growth market for US pork exports, jumping 91 percent to 169,160 metric tons, nearly 373 million pounds, valued at almost $271 million. Exports to China/Hong Kong surpassed exports to Canada in volume, with 148,576 metric tons or 327.5 million pounds, but Canada remains the No. 3 market in value of pork exports at $491.58 million, a 12 percent jump over 2006.

 
 
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