According to the USDA’s latest “U.S. Export Sales” report, pork net sales of 12,600 metric tons (MT) for 2014 were up 92 percent from last week and 27 percent from the four-week average.
Increases were reported for Mexico (6,800 MT), Japan (2,700 MT), South Korea (800 MT), Canada (800 MT), and Colombia (500 MT). Exports of 11,000 MT were primarily to Mexico (4,400 MT), South Korea (1,500 MT), Japan (1,200 MT), Canada (1,100 MT), and Hong Kong (800 MT).
Doane Advisory Services reports hog futures mixed in early Thursday action. On Wednesday, wholesale pork prices rose strongly, encouraging CME hog traders. However, the late cash quotes rose only slightly, thereby discouraging bulls. Overnight the expiring February future dipped while deferred contracts rose modestly. April hogs gained 0.15 cents to 94.52 cents/pound as Thursday dawned over Chicago, while June added 0.07 to 104.72.