U.S.: Pork Market Overview 2021

Pork Market Size in the U.S.

The U.S. pork market shrank to $X in 2020, declining by -X% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. from 2015 to 2020, the growth of the market remained at a somewhat lower figure.

Pork Production in the U.S.

In value terms, pork production stood at $X in 2020. The total output value increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. from 2015 to 2020, production growth remained at a lower figure.

The average yield of pork in the U.S. was estimated at X kg per head in 2020, remaining relatively unchanged against 2019 figures. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the yield attained the peak level of X kg per head; afterwards, it flattened through to 2020.

In 2020, number of animals slaughtered for pork production in the U.S. reached X heads, leveling off at the previous year. This number increased at an average annual rate of +X% over the period from 2007 to 2020; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The number of animals slaughtered for pork production peaked in 2020 and is expected to retain growth in the near future.

Pork Exports

Exports from the U.S.

In 2020, shipments abroad of pork increased by X% to X tonnes, rising for the sixth year in a row after two years of decline. Over the period under review, total exports indicated a resilient expansion from 2007 to 2020: its volume increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2014 indices. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, exports attained the maximum in 2020 and are likely to see steady growth in the immediate term.

In value terms, pork exports rose markedly to $X in 2020. Overall, total exports indicated a strong increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, exports increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2008 with an increase of X% y-o-y. Exports peaked in 2020 and are expected to retain growth in years to come.

Exports by Country

China (X tonnes), Mexico (X tonnes) and Japan (X tonnes) were the main destinations of pork exports from the U.S., with a combined X% share of total exports. South Korea, Canada, Australia, Colombia, Chile and the Dominican Republic lagged somewhat behind, together accounting for a further X 2007 to 2020, the biggest increases were in Chile, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for pork exported from the U.S. were China ($X), Japan ($X) and Mexico ($X), with a combined X% share of total exports. These countries were followed by Canada, South Korea, Australia, Colombia, Chile and the Dominican Republic, which together accounted for a further X recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average pork export price stood at $X per tonne in 2020, reducing by -X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2010 an increase of X% against the previous year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2014; however, from 2015 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Japan ($X per tonne), while the average price for exports to Mexico ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Colombia, while the prices for the other major destinations experienced more modest paces of growth.

Pork Imports

Imports into the U.S.

For the third year in a row, the U.S. recorded decline in supplies from abroad of pork, which decreased by -X% to X tonnes in 2020. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2009 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2015; however, from 2016 to 2020, imports remained at a lower figure.

In value terms, pork imports declined modestly to $X in 2020. In general, total imports indicated slight growth from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2014; however, from 2015 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Canada (X tonnes) constituted the largest pork supplier to the U.S., with a X% share of total imports. Moreover, pork imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tonnes), sevenfold. Poland (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from Canada totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Poland (+X% per year).

In value terms, Canada ($X) constituted the largest supplier of pork to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports. It was followed by Denmark, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Canada was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Denmark (-X% per year).

Import Prices by Country

The average pork import price stood at $X per tonne in 2020, picking up by X% against the previous year. Over the last thirteen years, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($X per tonne), while the price for Canada ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Canada, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for pork in the world?

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The country with the largest volume of pork consumption was China (47M tonnes), accounting for 42% of total volume. Moreover, pork consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (11M tonnes), fourfold. The third position in this ranking was occupied by Russia (5M tonnes), with a 4.5% share.

What are the largest producers of pork in the world?

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China (43M tonnes) remains the largest pork producing country worldwide, comprising approx. 38% of total volume. Moreover, pork production in China exceeded the figures recorded by the second-largest producer, the U.S. (13M tonnes), threefold. The third position in this ranking was occupied by Germany (5.3M tonnes), with a 4.7% share.

What are the leading suppliers of pork to the U.S.?

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In value terms, Canada ($650M) constituted the largest supplier of pork to the U.S., comprising 62% of total imports. The second position in the ranking was occupied by Mexico ($98M), with a 9.3% share of total imports. It was followed by Denmark, with a 8.1% share.

What are the leading importers of pork from the U.S.?

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In value terms, the largest markets for pork exported from the U.S. were China ($1.6B), Japan ($1.5B) and Mexico ($922M), together accounting for 68% of total exports. These countries were followed by Canada, South Korea, Australia, Colombia, Chile and the Dominican Republic, which together accounted for a further 24%.

What is the average export price for pork in the U.S.?

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In 2020, the average pork export price amounted to $2,545 per tonne, which is down by -1.8% against the previous year.

What is the average import price for pork in the U.S.?

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The average pork import price stood at $3,309 per tonne in 2020, surging by 4.4% against the previous year.