The USDA showed in its weekly “U.S. Export Sales” report that pork net sales fell this week, dropping 31 percent from last week’s report of 12,100 metric tons (MT) to 8,300 MT. These sales were primarily for Mexico (3,900 MT), Japan (1,400 MT), Canada (1,000 MT), Australia (1,000 MT), and Chile (200 MT).
Decreases were reported for Hong Kong (300 MT). Exports of 10,000 MT were primarily to Mexico (3,400 MT), Hong Kong (1,200 MT), Canada (1,100 MT), Japan (1,000 MT), and South Korea (900 MT).
On Wednesday hog futures raced upward as Chicago traders chased the cash market higher. Futures proved less vulnerable to the broad decline experienced overnight, as extreme seasonal strength in both the cash and wholesale sectors and considerable upward momentum in Chicago prices boosted the CME swine contracts early Thursday morning.
July hog futures rose 0.10 cents to 100.20 in Thursday morning electronic trading, while December gained 0.05 cents to 82.45.