FI Morning Grain Comments 03/24/22

PDF attached

 

Good
morning.

 

Note
Europe changes their clocks this Sunday.

 

Private
exporters reported sales of 318,200 metric tons of soybeans for delivery to unknown destinations during the 2021/2022 marketing year.

 

USD
is higher, crude oil slightly lower after trading two-sided multiple times earlier this morning, and equities higher.
US
President Joe Biden is in Brussels for meetings on the situation in Ukraine (NATO, G7 and European Council).  Soybean complex and grains are lower in a risk off trade. May CBOT corn traded $7.50 for the 16th session in a row. Wheat is lower on lack of bullish
news and precipitation falling across the dry areas of the US HRW wheat country. Soybean oil was down more than 110 points for several positions after palm oil reversed from a higher trade to settle 4 percent lower following a lower trade in Brent crude oil.
Argentina is on holiday today. Export developments are light.

 

 

 

Weather

 

Source:
World Weather Inc.

 

World
Weather Inc.

WORLD
WEATHER HIGHLIGHTS FOR MARCH 24, 2022

• West
  and South Texas dryness will continue over the next ten days to two weeks maintaining concern for dryland cotton, corn and sorghum planting and potential planting
• Drier
  weather in the U.S. Midwest, Delta and Tennessee River Basin in the next five days will be welcome and should help runoff diminish, flooding to ease a bit and some of the higher ground to begin drying
  
• more
  rain next week, though, will reverse the trend and may limit field progress once again
• U.S.
  Northwestern Plains and southwestern Canada’s Prairies will not receive much  precipitation in the coming week, but some light rain and snow may evolve briefly next week without changing the bottom line of dryness much
• California
  still has a good chance for rain and mountain snow late this weekend into early next week, but no change in drought status or runoff potentials for the spring and summer will result
• Western
  and southern Buenos Aires, Argentina will receive moderate to heavy rain today and Friday easing dryness, but areas from La Pampa northward to Salta and Santiago del Estero will likely be dry biased during much of the coming week to ten days
• Rain
  will return to eastern Argentina next week
• All
  of Brazil gets rain during the next ten days to two weeks except for interior parts of Bahia and northern Minas Gerais where dryness is expected to prevail
  
• Safrinha
  crop development should advance well with precipitation expected to continue deeply into April this year
• Central
  and eastern Europe will receive rain during the last days of March and early April just in time for spring planting
• Southwestern
  Europe and northwestern Africa have been and will likely continue to receive precipitation for winter and spring crops 
• Western
  Russia will experience a more active weather pattern late this weekend through all of next week and into the first days of April adding to the snow depths after recent melting
• China
  will see one more rain event impacting the  wet areas of the east-central and southeast parts of the nation over the next few days and then some welcome drying will occur for a while
  
• some
  areas in the Yangtze River Basin and southern coastal provinces have become too wet recently
• Eastern
  Australia is still expecting rain later today into early next week that may discolor open boll cotton fiber, but no permanent harm to crops is likely
• Remnants
  of Tropical Cyclone Charlotte may still impact Western Australia this weekend into early next week, but no negative impact is expected outside of some significant rain and breezy conditions

Source:
World Weather Inc.

 

Bloomberg
Ag Calendar

Thursday,
March 24:

• USDA
  weekly net-export sales for corn, soybeans, wheat, cotton, pork and beef
• Brazil’s
  Unica may release cane crush, sugar output data
• USDA
  red meat production, 3pm
• HOLIDAY:
  Argentina

Friday,
March 25:

• ICE
  Futures Europe weekly commitments of traders report, ~2:30pm
• CFTC
  commitments of traders weekly report on positions for various U.S. futures and options, 3:30pm
• Malaysia’s
  March 1-25 palm oil export data
• U.S.
  cattle on feed, poultry slaughter

Source:
Bloomberg and FI

 

 

 

 

 

USDA
Export sales

Poor
soybean, soybean oil & sorghum export sales.

Soybeans
export sales for 2021-22 were only 412,200 tons, below a range of trade expectations and included Algeria (84,000 MT), Egypt (76,500 MT), Mexico (75,100 MT), Indonesia (66,200MT), and China (32,500 MT), were offset by reductions for unknown destinations (57,700
MT). Switches from unknown were noted for many countries. New-crop soybean export sales were negative 13,000 tons were for China. 

Soybean
meal sales of 260,700 tons old crop and 42,200 tons new crop improved from the previous week and were within expectations. The Philippines and Ecuador were largest buyers. Soybean meal shipments were 136,200 tons, down from 252,200 tons previous week. 

Soybean
oil sales of negative 1,900 old crop included reductions for Mexico and Canada. There were no new-crop sales. Shipments of 19,400 tons improved from the previous week.

 

Corn
export sales of 979,500 tons were near the low end of expectations and included Mexico (265,300 MT), Colombia (153,900 MT, including 49,000 MT switched from unknown destinations and decreases of 4,000 MT), South Korea (127,200 MT), and unknown destinations
(92,600 MT). New crop sales were only 6,200 tons.  Sorghum sales were negative 6,400 tons.

 

All-wheat
export sales of 155,700 tons old crop and 367,300 tons new-crop were within expectations. New-crop sales included unknown destinations (142,200 MT), Colombia (69,700 MT), and Nigeria (46,000 MT),

 

 

 

Macros

US
Initial Jobless Claims Mar19: 187K (est 2210K; prev 214K)

US
Continuing Claims Mar 12: 1350K (est 1400K; prev 1419K)

US
Durable Goods Orders Feb P: -2.2% (est -0.6%; prev 1.6%)

US
Durables Ex Transportation Feb P: -0.6% (est 0.6%; prev 0.7%)

US
Current Account Balance Q4: -$217.9Bln (est -$218.0Bln; prev -$214.8Bln; prevR -$219.9)

 

 

Corn

·        
May CBOT corn
traded $7.50 for the 16^th session in a row. Lower wheat is weighing on prices but a late rally in soybean meal is supportive. Look for USDA trade estimates to be released later today.

·        
Argentina’s Buenos Aires grains exchange lowered their outlook for the corn production to 49 million tons versus 51 million tons previously.

·        
Seven US agriculture groups asked the USDA to open up CRP land. If realized, we think only a minimal amount would be adequately used for grain production as it takes about a year for CRP areas to adjust to “normal” conditions
for optimal growing conditions. Producers need time to turn the ground over and apply fertilizers. The organizations look for about 4 million acres to be utilized. Nearly 21 million acres are currently enrolled.

·        
Japan and the US reached an agreement on beef tariffs which should open the door for an increase in US exports. Exports of U.S. beef to Japan were nearly $2.4 billion in 2021, according to Reuters.

·        
USDA Broiler Report showed eggs set in the US up 1 percent from a year ago and chicks placed down 1 percent. Cumulative placements from the week ending January 8, 2022 through March 19, 2022 for the United States were 2.04 billion.
Cumulative placements were down slightly from the same period a year earlier.

·        
570K chickens to be destroyed in Nebraska fight against bird flu | TheHill

https://thehill.com/homenews/state-watch/599352-570k-chickens-to-be-destroyed-in-nebraska-fight-against-bird-flu

·        
Weekly US ethanol production was up 16,000 barrels to 1.042 million (trade looked for a 2,000 barrel increase) from the previous week and stocks up 203,000 barrels to 26.148 million (trade was looking for up 145k).

 

Export
developments.

• Turkey
  seeks 325,000 tons of corn on March 28. Optional origin for April 8 and May 5 shipment.  They also seek 175 tons of local corn.  500k total makes us wonder if they are covered for reserves.
  

 

 

Soybeans

·        
CBOT May
soybeans are lower on sharply lower soybean oil and weaker WTI crude. USDA export sales were poor for soybeans and soybean oil. New-crop soybean sales posted a net reduction of 13,000 tons. Again, we are hearing China soybean interest for late 2021-22 shipment,
but new-crop interest is quiet.

·        
Under the 24-H reporting system, USDA announced 318,200 tons of 2021-22 soybeans sold to unknown.

·        
Ukraine’s Agriculture Minister Roman Leshchenko has submitted his resignation, but it needs to be approved by Parliament. The Ministry earlier said the Ukraine spring crop planted area may end up around 7 million hectares for
2022, versus 15 million hectares expected before the invasion.

·        
Meanwhile APK-Inform now sees the 2022 Ukraine sunseed harvest at around 9.6 million tons, down 42 percent from their 2021 estimate. The rapeseed production could fall by 19% to 2.52 million tons and soybean production down 23%
to 2.74 million tons.

·        
Argentina’s Buenos Aires grains exchange left their 2021-22 soybean production estimate unchanged at 42 million tons and sunflower production at 3.3 million tons. 

·        
Brazil and Argentina will see beneficial rains this week and next week.

·        
Indonesia will export 1 million kiloliters of biodiesel this year according to the Vice Chairman of the Indonesia Biofuel Producer.  Last year exports were only 91,500 kiloliters in 2021.

·        
Officials from Indonesia and Malaysia told Reuters that they are still committed to their biodiesel programs. Indonesia since early 2020 is currently at B30. Malaysia wants to achieve 30 percent. They have set B20 by the end of
2022.

·        
June Malaysian palm oil settled 249 ringgit higher to 5,943. Cash palm was down $35/ton to $1,530 ton (2.2%).

·        
From this time yesterday morning Rotterdam meal from SA were unchanged and vegetable oils unchanged to up 15 euros. 

·        
China May soybeans were down 0.2%, meal up 1.1%, soybean oil higher by 2.0% and palm up 3.8%.

·        
Offshore values are leading SBO 99 points lower and meal $4.80 short ton lower. 

·        
In a Reuters article, Canada’s drought monitor suggest much of the Canadian Prairies are in need of precipitation, with exception to southern Manitoba. southern Alberta and central Saskatchewan in extreme drought conditions as
of Feb. 28.

 

Export
Developments

• Under
  the 24-hour reporting system, private exporters reported sales of 318,200 tons of soybeans for delivery to unknown destinations during the 2021-22 marketing year.
• Qatar
  seeks to buy 960k cartons of corn oil in a tender closing April 4.

 

EIA
projects U.S. renewable diesel supply to surpass biodiesel in AEO2022

https://www.eia.gov/todayinenergy/detail.php?id=51778&src=email#

 

Wheat

·        
US wheat futures are lower in a risk off trade and precipitation falling across the dry areas of US HRW wheat country.

·        
May Paris wheat futures were down 3.25 euros to 381 euros.

·        
Egypt is still looking to open additional avenues of sourcing wheat by extending talks with Argentina, India and the US.

·        
Egypt’s supply ministry will begin offering flour to private sector mills at 8,600 Egyptian pounds ($471.23) per ton as of Saturday after setting a fixed price for bread earlier this week.

 

Export
Developments.

·        
Jordan cancelled their import tender for 120,000 tons of milling wheat. Possible shipment combinations were May 16-31, June 16-30, July 1-15 and July 16-31.

·        
Qatar seeks 105,000 tons of optional origin animal feed barley on March 27 shipment in April, May and June. 

·        
Bangladesh is in for 50,000 tons of wheat with a deadline of April 4.

·        
Results awaited: Iraq extended their deadline to buy 50,000 tons of hard milling wheat until March 22.

 

Rice/Other

·        
(Bloomberg) — Qatar is seeking to buy 1.2m bags of rice in a tender that closes April 4, according to the Ministry of Commerce and Industry’s website.  Qatar also seeks to buy 960k cartons of corn oil in a tender closing April
4

 

USDA Export sales

Poor soybean, soybean oil & sorghum export sales.

Soybeans export sales for 2021-22 were only 412,200 tons, below a range of trade expectations and included Algeria (84,000 MT), Egypt (76,500 MT), Mexico (75,100 MT), Indonesia (66,200MT), and China
(32,500 MT), were offset by reductions for unknown destinations (57,700 MT). Switches from unknown were noted for many countries. New-crop soybean export sales showed a net reduction of 13,000 tons were for China.

Soybean meal sales of 260,700 tons old crop and 42,200 tons new crop improved from the previous week and were within expectations. The Philippines and Ecuador were largest buyers. Soybean meal shipments
were 136,200 tons, down from 252,200 tons previous week. 

Soybean oil sales of negative 1,900 old crop included reductions for Mexico and Canada. There were no new-crop sales. Shipments of 19,400 tons improved from the previous week.

 

Corn export sales of 979,500 tons were near the low end of expectations and included Mexico (265,300 MT), Colombia (153,900 MT, including 49,000 MT switched from unknown destinations and decreases
of 4,000 MT), South Korea (127,200 MT), and unknown destinations (92,600 MT). New crop sales were only 6,200 tons.  Sorghum sales were negative 6,400 tons.

 

All-wheat export sales of 155,700 tons old crop and 367,300 tons new-crop were within expectations. New-crop sales included unknown destinations (142,200 MT), Colombia (69,700 MT), and Nigeria (46,000
MT),

 

 

 

 

U.S. EXPORT SALES FOR WEEK ENDING  3/17/2022

	CURRENT MARKETING YEAR						NEXT MARKETING YEAR
COMMODITY	NET SALES	OUTSTANDING SALES		WEEKLY EXPORTS	ACCUMULATED EXPORTS		NET SALES	OUTSTANDING SALES
		CURRENT YEAR	YEAR AGO		CURRENT YEAR	YEAR AGO
	THOUSAND METRIC TONS
WHEAT
HRW	34.1	1,586.8	1,398.7	152.7	5,873.3	7,017.1	119.2	364.6
SRW	-14.7	567.6	354.6	39.3	2,188.3	1,439.8	133.0	364.0
HRS	91.4	1,067.2	1,648.2	105.1	4,112.0	5,767.7	62.1	372.7
WHITE	44.8	503.8	1,956.5	69.0	2,803.4	4,600.9	50.6	222.6
DURUM	0.0	18.8	78.3	0.0	169.7	592.1	2.4	49.4
TOTAL	155.7	3,744.1	5,436.3	366.1	15,146.7	19,417.6	367.3	1,373.3
BARLEY	0.1	13.9	6.1	0.0	14.7	22.7	0.0	0.0
CORN	979.5	22,719.4	32,988.6	1,492.1	30,298.6	31,940.1	6.1	2,138.7
SORGHUM	-6.4	3,274.7	2,748.1	255.2	3,501.7	3,518.4	0.0	0.0
SOYBEANS	412.2	11,161.5	6,380.1	549.2	42,874.7	54,278.8	-13.0	8,110.8
SOY MEAL	260.7	3,223.1	2,594.5	136.2	5,829.4	6,202.2	42.2	276.9
SOY OIL	-2.0	167.2	114.0	19.4	435.2	521.1	0.0	0.0
RICE
L G RGH	24.4	234.2	330.5	32.5	922.9	1,053.2	0.0	0.0
M S RGH	0.5	3.5	5.3	5.3	10.7	23.5	0.0	0.0
L G BRN	0.1	16.5	4.0	0.6	33.2	33.4	0.0	0.0
M&S BR	0.2	43.9	69.6	0.1	42.3	83.8	0.0	0.0
L G MLD	17.6	73.9	58.3	11.2	569.2	440.9	0.0	0.0
M S MLD	41.0	240.4	243.7	4.6	257.5	360.4	0.0	0.0
TOTAL	83.8	612.5	711.4	54.4	1,835.9	1,995.4	0.0	0.0
COTTON		THOUSAND RUNNING BALES
UPLAND	307.5	7,670.9	5,351.8	442.7	6,292.4	9,146.8	67.4	2,352.4
PIMA	3.0	160.7	257.5	5.8	270.5	477.4	0.0	15.0

 

 

This
summary is based on reports from exporters for the period March 11-17, 2022.

Wheat:  Net
sales of 155,700 metric tons (MT) for 2021/2022 were up 7 percent from the previous week, but down 51 percent from the prior 4-week average.  Increases primarily for Japan (109,800 MT), Taiwan (50,100 MT), Venezuela (31,500 MT, including 30,000 MT switched
from unknown destinations), Mexico (29,900 MT, including decreases of 29,400 MT), and Chile (12,000 MT), were offset by reductions primarily for Nigeria (35,700 MT), unknown destinations (31,400 MT), and Colombia (14,500 MT).  Net sales of 367,300 MT for 2022/2023
were primarily for unknown destinations (142,200 MT), Colombia (69,700 MT), Nigeria (46,000 MT), Panama (44,400 MT), and the Philippines (30,500 MT), were offset by reductions for Nicaragua (2,100 MT).  Exports of 366,100 MT were up 47 percent from the previous
week, but down 5 percent from the prior 4-week average.  The destinations were primarily to South Korea (83,300 MT), the Philippines (57,600 MT), Mexico (57,000 MT), Honduras (34,100 MT), and Venezuela (31,500 MT). 

Corn: 
Net sales of 979,500 MT for 2021/2022 were down 47 percent from the previous week and 29 percent from the prior 4-week average.  Increases primarily for Mexico (265,300 MT, including decreases of 400 MT), Colombia (153,900 MT, including 49,000 MT switched
from unknown destinations and decreases of 4,000 MT), South Korea (127,200 MT), unknown destinations (92,600 MT), and Israel (69,700 MT, including 65,000 MT switched from unknown destinations), were offset by reductions reported for Costa Rica (1,800 MT) and
Nicaragua (1,300 MT).  Total net sales of 6,100 MT for 2022/2023 were for Mexico.  Exports of 1,492,100 MT were up 17 percent from the previous week, but down 8 percent from the prior 4-week average.  The destinations were primarily to China (477,900 MT),
Japan (295,400 MT), Mexico (260,700 MT), Colombia (108,400 MT), and Canada (90,100 MT). 

Optional
Origin Sales: 
For 2021/2022, new optional origin sales of 190,000 MT were reported for unknown destinations (125,000 MT) and South Korea (65,000 MT).  The current outstanding balance of 535,800 MT is for unknown destinations (305,000 MT), South
Korea (130,000 MT), Morocco (60,000 MT), Italy (31,800 MT), and Saudi Arabia (9,000 MT).  For 2022/2023, the current outstanding balance of 3,900 MT is for Italy.

Barley: 
Total net sales of 100 MT for 2021/2022 were unchanged from the previous week and from the prior 4-week average.  The destination was South Korea.  No exports were reported for the week.

Sorghum: 
Net sales reductions of 6,400 MT for 2021/2022–a marketing-year low–were down noticeably from the previous week and from the prior 4-week average.  Increases reported for China (126,600 MT, including 133,000 MT switched from unknown destinations and decreases
of 12,300 MT), were more than offset by reductions for unknown destinations (133,000 MT).  Exports of 255,200 MT were down 2 percent from the previous week, but up 19 percent from the prior 4-week average.  The destination was to China (255,000 MT) and Mexico
(200 MT).

Rice: 
Net sales of 83,800 MT for 2021/2022 were up noticeably from the previous week and up 44 percent from the prior 4-week average.  Increases were primarily for Japan (38,000 MT), Colombia (22,000 MT), Haiti (15,200 MT, including decreases of 100 MT), Canada
(2,200 MT), and El Salvador (1,500 MT).  Exports of 54,400 MT were down 8 percent from the previous week and 22 percent from the prior 4-week average.  The destinations were primarily to Mexico (27,800 MT), Honduras (12,100 MT), Haiti (7,100 MT), Canada (3,000
MT), and Jordan (1,400 MT).

Exports
for Own Account:
For 2021/2022, new exports for own account totaling 100 MT were to Canada.  The current exports for own account outstanding balance is 100 MT, all Canada.

Soybeans: 
Net sales of 412,200 MT for 2021/2022 were down 67 percent from the previous week and 70 percent from the prior 4-week average.  Increases primarily for Algeria (84,000 MT), Egypt (76,500 MT, including 65,000 MT switched from unknown destinations and decreases
of 900 MT), Mexico (75,100 MT, including decreases of 1,000 MT), Indonesia (66,200 MT, including 55,000 MT switched from unknown destinations and decreases of 100 MT), and China (32,500 MT), were offset by reductions for unknown destinations (57,700 MT). 
Total net sales reductions of 13,000 MT for 2022/2023 were for China.  Exports of 549,200 MT were down 23 percent from the previous week and 38 percent from the prior 4-week average.  The destinations were primarily to China (161,700 MT), Mexico (138,400 MT),
Egypt (116,500 MT), Indonesia (80,300 MT), and Japan (16,700 MT).

Export
for Own Account:
For 2021/2022, the current exports for own account outstanding balance is 3,000 MT, all Canada.

Soybean
Cake and Meal: 
Net sales of 260,700 MT for 2021/2022 were up 77 percent from the previous week and 32 percent from the prior 4-week average.  Increases primarily for the Philippines (88,000 MT), Ecuador (87,000 MT, including decreases of 5,000 MT), Colombia (31,300 MT, including
20,000 MT switched from unknown destinations), Venezuela (24,000 MT), and Morocco (21,000 MT), were offset by reductions primarily for Ireland (30,000 MT) and unknown destinations (27,200 MT).  Net sales of 42,200 MT for 2022/2023 were reported for Ireland
(30,000 MT), Mexico (12,000 MT), and Canada (200 MT).  Exports of 136,200 MT–a marketing-year low–were down 46 percent from the previous week and from the prior 4-week average.  The destinations were primarily to Ecuador (32,500 MT), Mexico (27,800 MT),
Colombia (16,800 MT), Morocco (13,000 MT), and Canada (9,700 MT).

Soybean
Oil: 
Net sales reductions of 2,000 MT for 2021/2022 were down noticeably from the previous week and from the prior 4-week average.  Increases reported for India (800 MT, including decreases of 300 MT), were more than offset by reductions for Mexico (2,700 MT) and
Canada (100 MT).  Exports of 19,400 MT were up noticeably from the previous week and up 21 percent from the prior 4-week average.  The destinations were primarily to India (17,700 MT) and Mexico (1,300 MT).

Cotton: 
Net sales of 307,500 RB for 2021/2022 were down 17 percent from the previous week and 7 percent from the prior 4-week average.  Increases primarily for China (130,200 RB, including decreases of 8,900 RB), Turkey (71,700 RB, including decreases of 200 RB),
Bangladesh (26,500 RB), Pakistan (25,700 RB, including 200 RB switched from the United Arab Emirates and decreases of 100 RB), and Vietnam (23,400 RB, including 1,400 RB switched from South Korea, 500 RB switched from Indonesia, 500 RB switched from Japan,
and decreases of 200 RB), were offset by reductions for South Korea (1,400 RB), Guatemala (200 RB), and the United Arabia Emirates (200 RB).  Net sales of 67,400 RB for 2022/2023 were primarily for China (21,800 RB), Thailand (13,600 RB), Pakistan (9,700 RB),
Turkey (7,900 RB), and Guatemala (6,100 RB).  Exports of 442,700 RB–a marketing-year high–were up 36 percent from the previous week and 29 percent from the prior 4-week average.  The destinations were primarily to China (173,500 RB, including 46,000 RB –
late), Vietnam (74,700 RB, including 12,500 RB – late), Turkey (50,400 RB, including 5,500 RB late), Pakistan (37,100 RB, including 2,300 RB – late), and Mexico (23,700 RB).  Net sales of Pima totaling 3,000 RB were down 76 percent from the previous week and
53 percent from the prior 4-week average.  Increases were primarily for India (1,200 RB), China (700 RB), and Turkey (600 RB).  Exports of 5,800 RB were down 25 percent from the previous week and 61 percent from the prior 4-week average.  The destinations
were primarily to China (2,000 RB), Peru (1,700 RB), and Vietnam (1,500 RB).   

Optional
Origin Sales: 
For 2021/2022, options were exercised to export 4,400 RB to Pakistan from the United States.  The current outstanding balance of 57,200 RB is for Vietnam (52,800 RB) and Pakistan (4,400 RB). 

Exports
for Own Account: For
2021/2022, the current exports for own account outstanding balance is 100 RB, all Vietnam.

Late
Reporting:
For 2021/2022, exports
totaling 80,600 RB of upland cotton were reported late to China (46,000 RB), Vietnam (12,500 RB), Bangladesh (5,900 RB), Turkey (5,500 RB), South Korea (3,600 RB), Indonesia (2,600 RB), Pakistan (2,300 RB), Thailand (700 RB), India (600 RB), Guatemala (500
RB), and Peru (400 RB).

Hides
and Skins: 
Net sales of 413,500 pieces for 2022 were down 11 percent from the previous week, but up 1 percent from the prior 4-week average.  Increases primarily for China (256,800 whole cattle hides, including decreases of 6,900 pieces), South Korea (71,200 whole cattle
hides, including decreases of 1,100 pieces), Italy (26,600 whole cattle hides, including decreases of 700 pieces), Thailand (24,300 whole cattle hides, including decreases of 400 pieces), and Mexico (18,300 whole cattle hides, including decreases of 700 pieces),
were offset by reductions for Indonesia (400 pieces) and Brazil (100 pieces).  Total net sales of 100 calf skins, including decreases of 100 calf skins were for Italy.  In addition, net sales reductions of 400 kip skins were reported for Belgium (300 kip skins)
and Italy (100 kip skins).  Exports of 487,200 pieces were up 13 percent from the previous week and 19 percent from the prior 4-week average.  Whole cattle hides exports were primarily to China (293,100 pieces), South Korea (79,100 pieces), Mexico (31,100
pieces), Taiwan (19,000 pieces), and Thailand (15,700 pieces).  Total exports of 1,900 calf skins were to Italy.  In addition, exports of 5,100 kip skins were primarily to Belgium (2,600 kip skins) and China (1,300 kip skins).

Net
sales of 328,700 wet blues for 2022 were up noticeably from the previous week and from the prior 4-week average.  Increases primarily for Vietnam (111,400 unsplit, including decreases of 6,000 unsplit), Italy (88,900 unsplit, 35,200 grain splits, including
decreases of 100 unsplit and 400 grain splits), China (63,800 unsplit, including decreases of 5,000 unsplit), Thailand (20,200 unsplit), and Mexico (9,800 unsplit),
were offset by reductions for Mexico (1,000 grain splits), Taiwan (300 unsplit), and Portugal (200 grain splits).  Exports of 193,700 wet blues were up 63 percent from the previous week and 71 percent from the prior 4-week average.  The destinations were primarily
to Italy (52,300 unsplit and 20,700 grain splits), China (45,800 unsplit), Vietnam (40,300 unsplit), Thailand (12,600 unsplit), and Hong Kong (8,000 unsplit).  Net sales reductions of 61,200 splits were down noticeably from the previous week and from the prior
4-week average.  The destinations reported for China (30,400 pounds, including decreases of 13,600 pounds) and South Korea (300 pounds, including decreases of 1,200 pounds), were offset by reductions for Taiwan (86,500 pounds) and Vietnam (5,400 pounds). 
Exports of 324,000 pounds were to Vietnam (240,800 pounds) and China (83,200 pounds).

Beef: 
Net sales of 27,500 MT for 2022–a marketing-year high–were up 40 percent from the previous week and 29 percent from the prior 4-week average.  Increases were primarily for South Korea (9,000 MT, including decreases of 700 MT), China (7,600 MT, including
decreases of 100 MT), Japan (6,000 MT, including decreases of 500 MT), Hong Kong (1,100 MT), and Taiwan (900 MT, including decreases of 100 MT).  Exports of 41,800 MT–a marketing-year high–were up noticeably from the previous week and from the prior 4-week
average.  The destinations were primarily to Japan (11,300 MT, including 6,500 MT – late), China (8,700 MT, including 6,600 MT – late), South Korea (6,400 MT, including 1,900 MT – late), Mexico (4,400 MT, including 3,300 MT – late), and the Netherlands (2,200
MT, including 2,000 – late). 

Late
Reporting:
For 2022, exports
totaling 25,600 MT of beef were reported late to China (6,600 MT), Japan (6,500 MT), Mexico (3,300 MT), the Netherlands (2,000 MT), South Korea (1,900 MT), Egypt (1,500 MT), Italy (1,200 MT), Indonesia (900 MT), Philippines (400 MT), Hong Kong (300 MT), Guatemala
(200 MT), Singapore (200 MT), Chile (100 MT), Peru (100 MT), Switzerland (100 MT), the United Arab Emirates (100 MT), Brazil (100 MT), and Taiwan (100 MT).

Pork: 
Net sales of 23,200 MT for 2022 were down 39 percent from the previous week and 30 percent from the prior 4-week average.  Increases primarily for Mexico (9,200 MT, including decreases of 300 MT), South Korea (4,800 MT, including decreases of 300 MT), Japan
(3,300 MT, including decreases of 200 MT), Colombia (1,800 MT), and Australia (800 MT, including decreases of 100 MT), were offset by reductions for Nicaragua (200 MT).  Exports of 29,100 MT were up 12 percent from the previous week and 1 percent from the
prior 4-week average.  The destinations were primarily to Mexico (12,800 MT), Japan (4,600 MT), China (3,800 MT), South Korea (2,000 MT), and Canada (1,600 MT).