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Big week for 2023 pork export sales
The week ending December 29th, 2022 was a big week for 2023 pork export sales. The USDA says 2023 pork sales were 73,600 tons, mainly to Mexico and Japan and while 2022 sales were a net reduction, that’s not uncommon at the end of the year. 2022 beef sales were also a net reduction, while 2023 sales were a solid 12,300 tons. Holiday-related slowness was a big factor in grain and oilseed export sales, with only soybeans showing any week-to-week improvement. The UDSA’s next set of supply and demand estimates is out Thursday, January 12th at Noon Eastern/11 Central.
Physical shipments of soybeans were more than what’s needed to meet USDA projections for the current marketing year. The 2022/23 marketing year started June 1st, 2022 for wheat, August 1st, 2022 for cotton and rice, September 1st, 2022 for beans, corn, and sorghum, and October 1st, 2022 for soybean products. The marketing year for beef and pork is the calendar year.
Wheat came out at 47,100 tons (1.7 million bushels). China purchased 65,000 tons and Thailand bought 53,000 tons, while the Philippines canceled on 43,000 tons and unknown destinations canceled on 39,000 tons. In the back half of the 2022/23 marketing year, wheat exports are 550 million bushels, compared to 583.6 million in 2021/22. Sales of 97,000 tons (3.6 million bushels) for 2023/24 delivery were mainly to Mexico (33,000 tons) and unknown destinations (30,000 tons).
Corn was reported at 319,200 tons (12.6 million bushels). Mexico picked up 145,100 tons and Honduras purchased 83,200 tons, while unknown destinations canceled on 53,400 tons. About a third of the way through the second quarter of the marketing year, corn exports are 855.9 million bushels, compared to 1.614 billion a year ago.
There were no sorghum sales. Sorghum exports are 14.2 million bushels, compared to 209 million this time last year.
Rice sales were 23,600 tons. Haiti bought 15,000 tons and South Korea picked up 5,000 tons. Rice exports are 1,039,500 tons, compared to 1,618,500 a year ago.
Soybeans were pegged at 721,000 tons (26.5 million bushels). China purchased 421,800 tons and Turkey bought 97,900 tons, while unknown destinations canceled on 129,000 tons. So far, this marketing year, soybean exports are 1.61 billion bushels, compared to 1.532 billion last year. Sales of 151,000 tons (5.5 million bushels) for 2023/24 delivery were primarily to China (66,000 tons) and unknown destinations (66,000 tons).
Soybean meal came out at 79,300 tons. The Philippines picked up 26,400 tons and the Dominican Republic purchased 18,000 tons. Nearing the end of the first quarter of the marketing year, soybean meal exports are 6,199,800 tons, compared to 6,126,400 a year ago.
Soybean oil was reported at 400 tons. Mexico bought 300 tons and Canada picked up 100 tons. Cumulative soybean oil exports are 37,100 tons, compared to 440,700 last year.
Upland cotton was pegged at 39,600 bales. Vietnam purchased 15,500 bales and Turkey bought 10,900 bales, while China canceled on 7,700 bales. 2022/23 upland cotton exports are 8,786,400 bales, compared to 10,593,300 in 2021/22.
2022 beef had a net reduction of 6,900 tons following cancellations ranging from 500 to 2,200 tons. Shipments of 11,700 tons were mostly to Japan (4,500 tons), South Korea (3,100 tons), China (1,100 tons), Mexico (900 tons), and Canada (800 tons). Sales of 12,500 tons for 2023 delivery were mainly to Japan (4,400 tons), South Korea (2,100 tons), Taiwan (2,100 tons), China (1,500 tons), and Hong Kong (900 tons).
2022 pork had a net reduction of 51,900 tons due to cancellations ranging from 4,200 to 21,800 tons. Shipments of 19,400 tons were primarily to Mexico (8,700 tons), China (3,000 tons), Japan (2,600 tons), South Korea (1,300 tons), and Colombia (1,000 tons). Sales of 73,600 tons for 2023 delivery were mostly to Mexico (31,000 tons), Japan (15,700 tons), South Korea (7,000 tons), Canada (5,400 tons), and Australia (5,300 tons).
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