According to the USDA’s latest “U.S. Export Sales” report, pork net sales of 6,600 MT for 2014 were 24 percent lower than last week and 51 percent below the four-week average.
These net sales were reported for Mexico (2,600 MT), South Korea (1,200 MT), Hong Kong (700 MT), Japan (500 MT), and Taiwan (300 MT). Exports of 11,300 MT were primarily to Mexico (4,000 MT), South Korea (1,500 MT), Japan (1,500 MT), Canada (900 MT), and Hong Kong (700 MT).
Doane Advisory Services reports that Hog futures sustained Wednesday’s hog strength. Russia will reportedly return to the U.S. market as a pork buyer next month, thereby potentially tightening what was already viewed as a likely hog and pork shortage. April hogs inched up 0.02 at 95.12 cents/pound as Thursday dawned over Chicago, and June rallied 0.27 to 105.67.