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Pork export sales fall to marketing year low

Pork export sales dropped to a marketing year low during the week ending April 17^th. The USDA says China canceled a large amount U.S. pork, at least partially because of the ongoing tariff battle between the world’s largest economies. Several other key pork buyers did make a weekly purchase, but either at lesser amounts or with a reduction of the original amount. Beef, corn, soybean, and cotton also saw week-to-week declines and old crop wheat had a net reduction. Sorghum, rice, and soybean products were up on the week. The USDA’s next round of supply and demand estimates is out May 12^th.

Physical shipments of corn and soybeans were more than what’s needed to meet projections for the current marketing year. The 2024/25 marketing year began June 1^st for wheat, August 1^st for cotton and rice, September 1^st for beans, corn, and sorghum, and October 1^st for soybean products. The marketing year for beef and pork is the calendar year.

Wheat had a net reduction of 145,000 tons (-5.3 million bushels), as sales from 7,800 to 75,300 tons were more than offset by several cancelations led by unknown destinations at 158,400 tons and Mexico at 75,800 tons. With just over a month remaining in the 2024/25 marketing year, wheat exports are 781.8 million bushels, compared to 691.4 million in 2023/24. Sales of 371,700 tons (13.7 million bushels) for 2025/26 delivery were mainly to Mexico (112,000 tons) and Japan (93,200 tons).

Corn was reported at 1,152,900 tons (45.4 million bushels), down 26% from the week ending April 10^th, but up 1% from the four-week average. Japan purchased 629,200 tons and South Korea bought 140,600 tons, while unknown destinations canceled on 256,000 tons. For the marketing year to date, corn exports are 2.273 billion bushels, compared to 1.81 billion this time last year.

Sorghum sales of 21,400 tons (800,000 bushels) were 86% higher than the previous week and 32% above the four-week average. Mexico picked up 11,400 tons and unknown destinations purchased 10,000 tons. Sorghum exports are 54.2 million bushels, compared to 199.9 million a year ago.

Rice sales of 49,000 tons were considerably larger than the week before and an improvement of 6% from the four-week average. Unknown destinations bought 15,800 tons and Honduras picked up 13,300 tons. Rice exports of 2,725,000 tons, compared to 2,963,000 last year.

Soybeans were pegged at 277,000 tons (10.2 million bushels), 50% lower than the prior week and 25% below the four-week average. Mexico purchased 87,800 tons and the Netherlands bought 65,800 tons. So far, this marketing year, soybean exports are 1.729 billion bushels, compared to 1.525 billion a year ago. A net reduction of 100 tons for 2025/26 delivery followed a cancelation by Japan.

Soybean meal came out at 170,900 tons, an increase of 17% on the week and steady with the four-week average. Vietnam picked up 54,400 tons and the Philippines purchased 52,800 tons. Early in the second half of the marketing year, soybean meal exports are 12,029,000 tons, compared to 11,014,200 last year. Sales of 5,300 tons for 2025/26 delivery were to Canada.

Soybean oil was reported at 12,400 tons, 21% more than the previous week, but 44% less than the four-week average. India bought 42,000 tons and Mexico picked up 4,200 tons, while unknown destinations canceled on 42,000 tons. Cumulative soybean oil exports are 967,800 tons, compared to 104,200 a year ago.

Upland cotton was pegged at 104,000 bales, a drop of 49% from the week before and 22% from the four-week average. Vietnam purchased 34,400 bales and India bought 22,500 bales. 2024/25 upland cotton exports are 10,859,100 bales, compared to 11,294,300 in 2023/24. Sales of 38,000 bales for 2025/26 delivery were primarily to Indonesia (13,200 bales) and Peru (9,700 bales).

Net beef sales totaled 10,300 tons, a decrease of 41% from the prior week and 11% from the four-week average. The reported buyers were South Korea (3,200 tons), Japan (1,900 tons), Canada (1,300 tons), Hong Kong (1,300 tons), and Taiwan (1,100 tons). Shipments of 13,200 tons were down 10% on the week and from the four-week average, mostly to South Korea (4,900 tons), Japan (3,400 tons), Japan (1,200 tons), Mexico (1,000 tons), and Canada (900 tons).

Net pork sales totaled 5,800 tons, a decline of 72% from the previous week and 82% from the four-week average. The listed purchasers were Japan (6,300 tons), Mexico (3,800 tons), South Korea (1,800 tons), Colombia (1,600 tons), and Canada (1,200 tons), with net reductions by China (12,000 tons) and Denmark (100 tons). Shipments were 27,100 tons fell 12% from the week before and 14% from the four-week average, mainly to Mexico (10,200 tons), South Korea (4,700 tons), Japan (4,600 tons), Colombia (1,900 tons), and Canada (1,000 tons).