After plunging more than 60 percent last week, pork exports were back up this week. According to the USDA’s latest “U.S. Export Sales” report, pork net sales of 7,300 metric tons (MT) for 2013 was 58 percent higher than the week before.
These sales were primarily for Japan (2,000 MT), Ukraine (1,100 MT), South Korea (900 MT), Australia (800 MT), and Mexico (800 MT).
Exports of 7,900 MT were up 10 percent from the previous week, but down 20 percent from the prior 4-week average. The primary destinations were Mexico (2,300 MT), Ukraine (1,100 MT), Japan (1,000 MT), Australia (900 MT), and Canada (900 MT).
On Wednesday the hog market suffered surprising losses as growing talk of a looming end to the traditional September bounce depressed the hog and pork complex. By Thursday morning, cash and wholesale news seemingly boosted hot futures. October hog futures inched up 0.07 cents to 90.37 cents/pound as Chicago trading accelerated this morning, while December advanced 0.25 cents to 87.50.