According to the USDA’s latest Weekly Export Sales report, pork net sales of 9,800 metric tons (MT) for 2014 were down 35 percent from the previous week and 5 percent from the four-week average. Despite the decrease, pork net sales remain the 10-week low set in early April.
Increases were reported for Mexico (3,800 MT), Japan (1,100 MT), Honduras (800 MT), Australia (800 MT), and South Korea (700 MT).
Exports of 9,100 MT were down 32 percent from the previous week and 16 percent from the four-week average. The primary destinations were Mexico (3,500 MT), Japan (1,300 MT), South Korea (1,300 MT), Canada (1,100 MT), and Hong Kong (600 MT).
Doane Advisory Services reports CME lean hog futures have up well earlier this week as traders looked for seasonal strength to emerge; however, cash and wholesale weakness undercut hog futures going into Thursday. June hog futures fell 0.37 cents to 122.75 cents/pound in early Thursday action, while December dropped 0.22 to 92.27.