Agricultural News
Analysis: Experts Discuss U.S. Pork Export Data and NPB Diversification Strategy
Tue, 01 Mar 2022 08:54:10 CST
The National Pork Board hosted a webinar on February 11 where experts spoke on the 2021 year-end U.S. pork export data, NPB's international marketing strategy and their estimates for 2022 forecasting.
On February 8, USDA released the year-end export data. In 2021, U.S. pork exports set a new value record topping $8 billion for the first time. Export volume was down 2% from the 2020 record. Exports accounted for 29.4% of total U.S. pork production, up slightly from 2020.
Pork Checkoff funds are used to host this webinar to help pork producers understand the publicly available information. The goal is to add value to the pork industry and ultimately to consumers by providing a better understanding of the economics of pork production.
Brett Stuart, co-founder of Global Agri-trends, shared an overview of the 2021 export data, presented charts of U.S. pork exports by cut and category and expressed his assumptions for global pork trade in 2022.
"If you take the total export dollars divided by our slaughter, it comes out to $61 per hog," says Stuart. "It is incredible what has happened in a relatively short amount of time, and I think it is a great credit to what we do in productivity, making pork affordable and promoting it, and the efforts made by so many around the world."
Click here to hear all the interviews and comments that took place throughout the Webinar.
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