Thursday, November 17, 2022
HomePigGenesus International Market Report Mexico, November 2022 - Swineweb.com

Genesus International Market Report Mexico, November 2022 – Swineweb.com


Fernando Ortiz-H. Genesus Ibero-America Enterprise Growth

Mexican Pork Market

The outlook for pork exports within the coming months appears encouraging, because the nations of the European Union proceed with a declining pork manufacturing, China presents a home market with greater costs.

  • Final week, the nationwide worth of stay pigs remained barely down with 0.06%, remaining at $46.40 MXP per kilo, this worth strikes nicely above the costs registered in 2021 and 2020, with will increase of 41.61% and 57.57%, respectively.
  • The carcass worth stays with out weekly motion with $61.65 MXP per kilo, which represents an annual progress of 41.82%.
  • The liveweight worth common in Mexico is 47.28% above the worth paid within the US, whereas carcass worth has a distinction of fifty.34%.

Feed Market

In Mexico the costs of feed provides proceed with the volatility that has characterised them in the course of the 12 months, in week 42, corn and sorghum registered a slight weekly contraction of 0.03% and 0.1%, respectively, nonetheless the worth of pasta soybeans transfer upwards with a rise of two% in comparison with the earlier week.

Regional Markets

The rise in pork costs for 2 of a very powerful home markets in Mexico, Jalisco and Sonora, has been equally substantial within the final two years, setting document costs in each states, as we will see within the following graph

Export

Though with progress, Mexican meat exports start to stagnate. From January to September, Mexican exports of pork, beef and hen totaled 443,659 tons, a progress of 0.7% in comparison with 2021, this for a price 2.1% greater than that of the identical interval final 12 months, closing the turnover at 2,513.4 million {dollars}.

The Agricultural Markets Consulting Group (GCMA) reported that, concerning hen exports, pork was the meat with the bottom quantity offered (2,777 t.) and the one which suffered probably the most appreciable drop, closing the interval at -22%; the worth encrypted a contraction of seven% with 4.3 million {dollars}. and the worth per ton nearly 20% greater, with a complete of 1,562 {dollars}.

MEXICAN PORK EXPORTS FELL 11% – Pork had a destructive habits falling by 11.3%, 177,400 t had been positioned overseas. for a price of 720.1 million {dollars}; Within the case of the worth per ton, it rose 4.9%, to have an indicator of 4,060 {dollars}.

Lastly, beef was the one animal protein that reported a optimistic influence, with shipments 11.2% greater versus 2021, to have an export of 263,482 mt.; Regardless that the worth per ton fell 4.4% (6,790 {dollars}), whole revenues had been 6.3% greater than the earlier 12 months, ending at 1,788.9 million {dollars}.

USD/MXP EXCHANGE RATE

Lastly, the greenback towards the Mexican peso. The Mexican forex exhibits a larger advance towards the greenback, which fell to ranges not seen because the finish of February 2020. It has taken a breather after its fixed rises for months (affecting different elements of the world greater than Mexico). Nevertheless, this falling greenback is bullish for US-traded commodities, equivalent to agricultural trades persevering with on the Chicago Inventory Trade (CME), and direct inputs into their trades. agricultural, industrial and agro-industrial operations.

Sources

Porcicultura.com

3TRES3

Grupo Consultor de Mercados Agrícolas (GCMA)

 

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments