The USDA, in their latest “U.S. Export Sales” report, showed pork net sales of 9,700 metric tons (MT) for 2013.
This week’s report is 84 percent higher than last week and 18 percent above the four-week average.
Increases were reported for Mexico (2,300 MT), South Korea (1,300 MT), Japan (1,100 MT), Hong Kong (1,000 MT), and Australia (900 MT). Exports of 12,100 MT were primarily to Mexico (4,300 MT), South Korea (1,600 MT), Canada (1,300 MT), Japan (1,200 MT), and Hong Kong (700 MT).
Tuesday’s cash hog quotes proved surprisingly strong, sparking a strong rally on Wednesday. Hog traders remained optimistic overnight. On Thursday, February hog futures slid 0.05 cents to 86.30 cents/pound in early Thursday trading, and June slumped 0.02 to 99.90.