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Mexico, China make up most of week’s pork sales

The USDA says pork export sales were up sharply during the week ending September 23rd.  The total of 42,500 tons was 31% higher than the previous week, with Mexico and China combining for more than 80% of the week’s pork sales. Beef exports were up modestly, with Japan, South Korea, and China leading the way. Soybean, soybean product, cotton, and rice sales all showed week to week improvements, while corn and wheat sales declined. The USDA’s next set of supply and demand estimates is out October 12th.

Physical shipments of beans, corn, sorghum, and wheat were less than what’s needed to meet projections for the current marketing year. The 2021/22 marketing year started June 1st, 2021 for wheat, August 1st, 2021 for cotton and rice, and September 1st, 2021 for beans, corn, and sorghum, and starts October 1st, 2021 for soybean products. The marketing year for beef and pork is the calendar year.

Wheat came out at 290,100 tons (10.7 million bushels), down 19% from the week ending September 16th and 30% from the four-week average. Japan purchased 51,500 tons and Taiwan bought 49,600 tons, but unknown destinations canceled on 66,400 tons. Just over a quarter into the 2021/22 marketing year, wheat sales are 406.9 million bushels, compared to 514.1 million in 2020/21.

Corn was reported at 370,400 tons (14.6 million bushels). Guatemala picked up 138,400 tons and Mexico purchased 102,600 tons, while unknown destination canceled on 110,900 tons. Nearly a full month into the marketing year, corn sales are 996.7 million bushels, compared to 969.3 million this time last year.

Sorghum sales were 78,800 tons (3.1 million bushels). Unknown destinations bought 65,000 tons and Mexico picked up 11,300 tons. Sorghum exports are 92.6 million bushels, compared to 110.3 million a year ago.

Rice sales were 75,100 tons, up solidly from both the previous week and the four-week average. Japan bought 39,300 tons and Taiwan picked up 12,000 tons. Rice exports are 864,000 tons, compared to 751,400 last year.

Soybeans were pegged at 1,093,900 tons (40.2 million bushels). China purchased 776,500 tons and Egypt bought 92,500 tons, while unknown destinations canceled on 131,400 tons. So far, this marketing year, soybean sales are 892.4 million bushels, compared to 1.397 billion a year ago. Sales of 7,800 tons (300,000 bushels) for 2022/23 delivery were to Cuba.

Soybean meal came out at 66,800 tons, 48% larger than the week before and 22% more than the four-week average. The Philippines picked up 47,300 tons and Spain purchased 31,900 tons, while Italy canceled on 30,000 tons. Nearing the end of the 2020/21 marketing year, soybean meal sales are 12,347,800 tons, compared to 12,122,200 late in 2019/20. Sales of 162,900 tons for 2021/22 delivery were mainly to Guatemala (59,400 tons) and the Dominican Republic (38,500 tons).

Soybean oil was reported at 6,000 tons, a jump of 39% from the prior week and well above the four-week average. Costa Rica bought 2,500 tons and Morocco picked up 1,900 tons. Cumulative soybean oil sales are 697,600 tons, compared to 1,287,700 last year. Sales of 22,400 tons for 2021/22 delivery were to Guatemala (17,000 tons), the Dominican Republic (2,400 tons), and Canada (2,300 tons).

Upland cotton was pegged at 571,400 bales, a gain of 65% on the week and 92% from the four-week average. China purchased 418,600 bales and Turkey bought 39,600 bales. 2021/22 upland cotton exports are 7,223,800 bales, compared to 7,956,000 in 2020/21.

Net beef sales totaled 16,100 tons, 2% higher than the previous week and 9% greater than the four-week average. The reported buyers were Japan (5,500 tons), South Korea (5,300 tons), China (2,800 tons), Taiwan (1,100 tons), and Mexico (700 tons), with a cancellation by the Philippines (800 tons). Shipments of 18,500 tons were up 2% from the week before and 3% from the four-week average, primarily to Japan (5,500 tons), South Korea (4,900 tons), China (3,500 tons), Taiwan (1,100 tons), and Mexico (1,000 tons). Sales of 1,000 tons for 2022 delivery were mostly to Guatemala (500 tons), Japan (200 tons), and Mexico (200 tons).

Net pork sales totaled 42,500 tons, an increase of 31% from the prior week and 36% from the four-week average. The listed purchasers were Mexico (20,400 tons), China (14,000 tons), Japan (2,600 tons), Colombia (1,400 tons), and Nicaragua (900 tons). Shipments of 30,300 tons were a decline of 16% on the week, but a rise of 2% from the four-week average, mainly to Mexico (14,700 tons), China (4,400 tons), Japan (3,600 tons), Canada (1,600 tons), and South Korea (1,600 tons). Sales of 100 tons for 2022 delivery were to Australia.

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