According to the USDA’s latest Weekly Export Sales report, pork net sales of 6,500 metric tons (MT) for 2014 were down 24 percent from the previous week and 39 percent from the prior 4-week average.
Increases were reported for Mexico (2,400 MT), Canada (1,300 MT), Japan (900 MT), South Korea (600 MT), and Hong Kong (300 MT). Decreases were reported for New Zealand (200 MT).
Pork exports of 9,800 MT were down 6 percent from the previous week and 3 percent from the prior 4-week average. The primary destinations were Mexico (4,100 MT), Japan (1,600 MT), Canada (1,200 MT), South Korea (600 MT), and Hong Kong (600 MT).
Doane Advisory Service reports cash and wholesale news sparked fresh hog gains overnight into Thursday. August hog futures spiked 1.70 cents to 128.97 as Thursday dawned over Chicago, while December zoomed up 1.77 cents to 96.02.