US pig stock has fallen, export volume has grown sharply

As of December 1, the U.S. pig herd totaled 77,5 million animals, a decrease of 1% compared to the same period last year and also 1% lower than the previous September count. The number of breeding pigs amounts to 6,28 million head and is 3% below last year's level.

pork export
Although the domestic pig herd has shrunk compared to last year, the export volume of pork is actually higher. According to the latest figures from the US Meat Export Federation (USMEF), pork exports reached 242.536 tonnes in October, up 8% year-on-year. The value is also 8% higher and is listed at $641,1 million.

In the first 10 months of the year, approximately 15% more pork was exported than last year. A total of 2,46 million tons crossed the borders. The export value achieved a growth of 16% and amounts to $6,33 billion. China is the main buyer of American pork, but in October exports to Japan (+18%) and Mexico (+11%) also increased sharply.

Confidence in the future
Typically, pork prices drop in the winter months, but the opposite trend has occurred in the United States this year. According to analysts, this is a result of African swine fever in Germany. American exporters can sufficiently fill the gap in Chinese demand created by the German export ban.

Producers in the United States say they have confidence in the future. This is due to the market conditions associated with current price levels. It is reported that piglets are currently selling for around $60, a significant increase compared to the price of 5 months ago. At the time, the price level was at a low point due to closed slaughterhouses due to the corona crisis. Pig farmers even had to culling pigs en masse.