The US pork market is experiencing robust growth, driven by increased production and competitive pricing. In 2023, pork production rose by 1.1% to 12.4 million tonnes, with forecasts indicating a further increase of 2.4% in 2024.
This surge in production has resulted in a 7.5% year-on-year rise in exports, totaling 2.43 million tonnes, as US pork remains competitively priced in the global market. Key export destinations include Mexico, South Korea, and Canada, with significant gains noted in these regions, reflecting strong international demand for US pork products[1][2][4].
Citations:
[1] https://ahdb.org.uk/news/us-pork-market-production-gains-continue-to-drive-exports
[2] https://ahdb.org.uk/news/us-pork-market-update-production-gains-and-lower-pricing-drive-exports
[3] https://www.pigprogress.net/the-industrymarkets/market-trends-analysis-the-industrymarkets-2/usda-pork-update-production-exports-and-global-market-analysis/
[4] https://www.swineweb.com/market-reports/rising-demand-and-exports-drive-optimism-for-u-s-pork-industry-in-2024/
[5] https://www.pig333.com/latest_swine_news/u-s-pork-exports-in-january-2024_20148/