According to the USDA’s Weekly Export Sales report, pork net sales of 17,100 metric tons (MT) for 2014 were up noticeably from the previous week and 85 percent from the prior 4-week average.
This week’s report, representing sales from June 13-19, sets a 10-week high and comes in as the second highest for the year. The annual high was at 21,100 MT, set in early January.
Increases were reported for Mexico (9,300 MT), Japan (2,800 MT), Canada (1,700 MT), Hong Kong (800 MT), and the Philippines (600 MT). Exports of 9,900 MT were up 1 percent from the previous week, but unchanged from the prior 4-week average. The primary destinations were Mexico (4,000 MT), Japan (1,700 MT), Canada (1,300 MT), the Philippines (600 MT), and South Korea (500 MT).
Doane Advisory Service notes the hog market floundered ahead of Friday’s Hogs and Pigs report, due to come up tomorrow afternoon. August hog futures slid 0.07 cents to 128.57 in early Thursday action, while December sank 0.30 cents to 95.80.