According to the USDA’s latest “Weekly Export Sales” report, pork net sales of 6,600 metric tons (MT) were up 26 percent from last week but down 24 percent from the four-week average. This report marks the first time in a month that pork net sales have seen an uptick. Between Feb. 13 and March 13, pork net sales steadily dropped by 68 percent.
Increases were reported for Mexico (3,400 MT), Canada (1,100 MT), Japan (700 MT), South Korea (400 MT), and Hong Kong (300 MT). Decreases were reported for Australia (100 MT).
Exports of 10,600 MT were primarily to Mexico (3,700 MT), South Korea (1,700 MT), Japan (1,300 MT), Hong Kong (1,000 MT), and Canada (800 MT).
Doane Advisory Services shows that hog futures were boosted by Wednesday afternoon reports which continued overnight. April hog futures surged 0.95 cents to 123.42 early Thursday morning, while June ran up 0.62 to 126.92.