USDA pork update: production, exports and global market analysis

Nov 27, 2023

In the report “Livestock and Poultry: World Markets and Trade” published mid-October, USDA analysts state that world pork production in 2024 is expected to “remain virtually unchanged at 115.5 million tonnes.” Lower production in the EU and China will be offset by a little higher production in Brazil, Vietnam and the US.

Specifically, US production is forecast to be 2% higher in 2024 compared to 2023. This is due to a strong increase in pigs produced per litter. Falling feed costs also play a role, which makes pork prices more competitive compared to other meats.

US pork exports are forecast to increase 3% in 2024 “on strong demand from Canada, the Philippines and South Korea as well as gaining market share from the EU in China and Australia.”

Looking at total global pork exports, shipments are forecast to increase 2% to 10.4 million tonnes in 2024 as Brazil exports continue to gain market share from EU and US pork products, particularly in the markets of Japan and Mexico.

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Video: Secure Pork Supply Plan | Prepare to Protect Your Herd | U.S. Pork Producers

Join Jill Brokaw, a third-generation pig farmer, as she dives into the vital role of the Secure Pork Supply (SPS) Plan in preparing the U.S. pork industry for potential foreign animal disease outbreaks. This video is an essential watch for pork producers who are looking to safeguard their operations against the threats of diseases like foot and mouth disease, classical swine fever, and African swine fever. Why Should Pork Producers Care? An outbreak of foreign animal diseases in the U.S. could lead to severe restrictions and potentially result in industry-wide financial losses estimated between $15 to $100 billion. The SPS Plan is a collective effort to prevent such catastrophic outcomes by enhancing biosecurity, ensuring animal traceability, and promoting effective disease monitoring.