Pork Export Sales Surge, Driven by Aggressive Chinese Buys

Posted on 04/11/2019 8:00 AM

USDA Weekly Export Sales Report

Week Ended April 4, 2019

Corn

Actual Sales (in MT)

2018-19: 548,000

Expectations (in MT)

2018-19: 6000,000-950,000
2019-20: 50,000-200,000

Weekly Sales Details

Net sales of 548,000 MT for 2018-19 were up 2% from the previous week, but down 18% from the prior 4-week average.  Increases were reported for Colombia (181,500 MT, including 82,600 MT switched from unknown destinations and decreases of 300 MT), unknown destinations (169,900 MT), South Korea (138,900 MT, including decreases of 3,400 MT), Mexico (76,600 MT, including decreases of 1,400 MT), and Saudi Arabia (71,600 MT).  Reductions were primarily for Israel (162,000 MT) and El Salvador (11,900 MT).

Weekly Export Details

Exports of 983,000 MT were down 22% from the previous week, but up 4% from the prior 4-week average.  The destinations were primarily to Mexico (264,000 MT), South Korea (206,000 MT), Saudi Arabia (158,600 MT), Japan (123,900 MT), and Colombia (88,100 MT).

Comments and Performance Indicators

Export commitments are running 9% behind year-ago versus 9% behind 2017-18 levels the previous week. USDA projects exports in 2018-19 at 2.300 billion bu., down 5.7% from the previous marketing year.

Wheat

Actual Sales (in MT)

Combined: 474,400
2018-19: 273,000
2019-20: 201,400

Expectations (in MT)

2018-19: 300,000-500,000
2019-20: 100,000-200,000

Weekly Sales Details

Net sales of 273,000 metric tons for delivery in the 2018-19 were down 61% from the previous week and 37% from the prior 4-week average.  Increases were reported for Mexico (89,100 MT, including decreases of 800 MT), South Africa (49,900 MT, including 50,000 MT switched from unknown destinations and decreases of 2,200 MT), Japan (49,400 MT, including decreases of 300 MT), the Philippines (40,400 MT), and Peru (40,200 MT).  Reductions were primarily for unknown destinations (111,600 MT).  For 2019-20, net sales of 201,400 MT reported for Thailand (61,500 MT), Mexico (56,000 MT), South Korea (34,100 MT), and Italy (20,000 MT), were partially offset by reductions for Nigeria (11,000 MT).

Weekly Export Details

Exports of 586,700 MT were up 41% from the previous week and 21% from the prior 4-week average.  The destinations were primarily to the Philippines (103,400 MT), Taiwan (67,300 MT), Nigeria (64,200 MT), Egypt (63,000 MT), and Thailand (59,000 MT).

Comments and Performance Indicators

Export commitments are running 6% ahead of year-ago versus 6% ahead of year-ago the week prior. USDA projects exports in 2018-19 at 945 million bu., up 4.9% from the previous marketing year

Soybeans

Actual Sales (in MT)

Combined: 280,400
2018-19: 270,400
2019-20: 10,000

Expectations (in MT)

2018-19: 800,000-1,150,000
2019-20: 0-100,000

Weekly Sales Details

Net sales of 270,400 MT for 2018-19 were down 86% from the previous week and 76% from the prior 4-week average.  Increases were reported for Indonesia 73,700 MT, including 55,000 MT switched from unknown destinations and decreases of 700 MT), Mexico (71,000 MT, including decreases of 36,500 MT), the Netherlands (66,300 MT), Egypt (54,700 MT, including decreases of 4,000 MT), and Japan (48,700 MT, including 45,900 MT switched from unknown destinations and decreases of 100 MT).  Reductions were primarily for unknown destinations (99,300 MT).  For 2019-20, net sales of 10,000 MT were for Malaysia (5,000 MT), Japan (3,900 MT), and South Korea (1,100 MT).

Weekly Export Details

Exports of 889,800 MT were up 16% from the previous week and 1% from the prior 4-week average.  The destinations were primarily to China (384,900 MT), Egypt (154,700 MT), Mexico (107,700 MT), Indonesia (74,500 MT), and the Netherlands (66,300 MT).

Comments and Performance Indicators

Export commitments are running 17% behind the 2017-18 marketing year compared with 15% behind year-ago the previous week. USDA projects exports in 2018-19 at 1.875 billion bu., down 11.9% from year-ago.

Soymeal

Actual Sales (in MT)

Combined: 152,600
2018-19: 152,100
2019-20: 500

Expectations

100,000-300,000

Weekly Sales Details

Net sales of 152,100 MT for 2018-19 were down 20% from the previous week, but up 2% from the prior 4-week average.  Increases were reported for the Philippines (93,700 MT), Colombia (22,300 MT, including 10,800 MT switched from unknown destinations and decreases of 3,400 MT), Canada (21,000 MT), Mexico (9,900 MT, including decreases of 300 MT), and El Salvador (7,800 MT, including 7,400 MT switched from Guatemala and decreases of 300 MT).  Reductions were primarily for Peru (11,500 MT), Ecuador (7,000 MT), Nicaragua (6,800 MT), and Guatemala (6,300 MT).  For 2019-20, total net sales were reported for El Salvador (500 MT).

Weekly Export Details

Exports of 243,800 MT were down 17% from the previous week, but up 10% from the prior 4-week average.  The destinations were primarily for Vietnam (53,100 MT), Mexico (40,400 MT), Slovenia (28,500 MT), Israel (21,200 MT), and Guatemala (20,500 MT).

Comments and Performance Indicators

Export commitments for 2018-19 are running steady with year-ago, compared with 2% ahead as of the week before. USDA projects exports in 2018-19 to be down 2.2% from the previous marketing year.

Soyoil

Actual Sales (in MT)

Combined: 00
2018-19: 33,800
2019-20: 00

Expectations

8,000-30,000

Weekly Sales Details

Net sales of 33,800 MT for 2018-19 were down 8% from the previous week, but up 99% from the prior 4-week average.  Increases reported for South Korea (24,000 MT, late reporting), Guatemala (6,700 MT), and Mexico (2,800 MT, including decreases of 100 MT), were partially offset by reductions for Canada (600 MT).  Exports of 2,600 MT were down 89% from the previous week and 90% from the prior 4-week average.

Weekly Export Details

Exports were primarily to Mexico (2,000 MT), Canada (200 MT), and Honduras (200 MT).

Comments and Performance Indicators

Export commitments for the 2018-19 marketing year are running 13% behind year-ago, versus 16% behind year-ago the week prior. USDA projects exports in 2018-19 to be down 8.1% from the previous year.

Cotton

Actual Sales (in RB)

Combined: 494,900
2018-19: 289,000
2019-20: 205,900

Weekly Sales Details

Net sales of 289,000 RB for 2018-19 were down 10% from the previous week, but up 39% from the prior 4-week average.  Increases were reported for Vietnam (91,700 RB, including 2,200 RB switched from South Korea and decreases of 1,400 RB), India (70,000 RB), China (43,600 RB, including decreases of 2,600 RB), Turkey (32,200 RB, including decreases of 1,300 RB), and Bangladesh (15,500 RB, including decreases of 800 RB).  Reductions were reported for Pakistan (1,300 RB), Japan (1,200 RB), and South Korea (100 RB).  For 2019-20, net sales of 205,900 RB were primarily for Vietnam (131,200 RB), China (36,500 RB), South Korea (16,000 RB), Mexico (14,100 RB), and El Salvador (3,200 RB).

Weekly Export Details

Exports of 383,300 RB were down 7% from the previous week, but up 7% from the prior 4-week average.  Exports were primarily to Vietnam (73,600 RB), Pakistan (57,800 RB), Turkey (56,800 RB), China (53,000 RB), and Indonesia (23,700 RB).

Comments and Performance Indicators

Export commitments for 2018-19 are running 12% behind year-ago, versus 13% behind the week prior. USDA forecasts total cotton exports to fall 5.4% to 15.0 million bales this marketing year.

Beef

Actual Sales (in MT)

2019: 11,800

Weekly Sales Details

Net sales of 11,800 MT reported for 2019 were down 43% from the previous week and 28% from the prior 4-week average.  Increases were reported for Hong Kong (3,300 MT, including decreases of 100 MT), South Korea (2,200 MT, including decreases of 500 MT), Japan (2,000 MT, including decreases of 400 MT), Taiwan (1,200 MT), and Canada (900 MT).

Weekly Export Details

Exports of 15,100 MT were up 1% from the previous and 2% from the prior 4-week average.  The primary destinations were Japan (5,100 MT), South Korea (4,100 MT), Mexico (1,500 MT), Taiwan (1,300 MT), and Hong Kong (1,200 MT).

Comments and Performance Indicators

Last week, sales totaled 20,500 MT. USDA projects 2019 exports to rise 3.1% from year-ago levels.

Pork

Actual Sales (in MT)

2019: 90,700

Weekly Sales Details

Net sales of 90,700 MT reported for 2019 were up noticeably from the previous week and from the prior 4-week average.  Increases were reported for China (77,700 MT), South Korea (3,600 MT), Chile (2,900 MT), Japan (2,200 MT), and Canada (1,100 MT). 

Weekly Export Details

Exports of 27,500 MT were up 1% from the previous week and 3% from the prior 4-week average.  The primary destinations were Mexico (7,200 MT), South Korea (4,900 MT), China (4,000 MT), Japan (3,300 MT), and Australia (1,800 MT).

Comments and Performance Indicators

Sales totaled 10,800 MT in last week’s report. USDA projects exports in 2019 will rise 5.2% from year-ago.

 

 

 

 

 

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