Genesus Global Market Report Mexico July 2024

Fernando Ortiz, Genesus, Ibero-America Business Development Manager

Mexican Pork Market Prices Trend (Last Month)

The national average liveweight price has reacted positively in recent weeks, positioning itself at 48.70 pesos/kg ($1.24/lb), with peaks of 51 pesos ($1.30/lb) in the States of Guanajuato, Jalisco, Querétaro, Michoacán and Yucatán. The biggest increase has occurred in Sonora, which came from a price of $38 pesos/Kg ($0.96/lb), reaching $42 pesos ($1.07/lb) this week.

These increases, although they are considered seasonal, have produced a respite of optimism among pig producers.

U.S. Fresh Pork Imports and Exports

Accumulated to week 26 in Imports and exports of 2024 vs 2023

US Fresh Pork Imports, Week 26, 2024:

  • Imports of fresh pork have decreased by 10% weekly, reaching 221.6 thousand tons, so far this year.
  • Canada reduced its weekly shipments by 6%, reaching a total of 146.1 thousand mt so far this year.
  • Mexico is the second largest supplier, shipping 755 tons in the last week. The annual cumulative total remains at 17.5 thousand tons, a decrease of 26% annually.
  • Brazil shipped 628 metric tons in the last week, a volume 29% lower than the previous week. So far this year, it has shipped a total of 17.3 thousand metric tons.

US Pork Exports Week 26, 2024

  • U.S. pork exports for the week were up 6% week-over-week with 30,000 MT shipped worldwide last week.
  • Purchases of fresh pork made by Mexico from the USA in week 26-2024 were recorded at 12.6 thousand tons, 11% more than the previous week and reaching 333 thousand tons acquired in 2024, a figure 5.4% lower than in 2023.
  • Japan increases its weekly purchases by 11% and reaches a total of 120.6 thousand tons so far this year.

Mexican imports of pork, carried out between January and May 2024, amounted to 688,166 tons, which compared to the same period of the previous year represented a growth of 5.4%

This resulted in Mexico having to spend 11.4% more in year-on-year terms, totaling just over 1,407 million dollars, as reported by the Agricultural Market Consulting Group (GCMA).

While Mexican pork exports, in contrast, continued to reflect a downward trend, with a decrease of 1.1% compared to the first five months of last year, amounting to 84,348 t.

In this case, the economic benefit generated by these shipments expressed an inverse trend, increasing 5.2% to reach 351.5 million dollars, thanks to a 6.4% higher price per ton, of 4,168 dollars.


Agricultural Market Consulting Group (GCMA)