In the USDA’s latest “U.S. Export Sales” report, pork net sales were up again, jumping 41 percent from last week to 9,600 metric tons (MT).
These sales were primarily for Mexico (5,300 MT), Canada (1,200 MT), Ukraine (700 MT), Japan (600 MT), and the Philippines (400 MT). Exports of 8,700 MT were primarily to Mexico (3,000 MT), Japan (1,200 MT), Hong Kong (1,100 MT), Canada (800 MT), and the Philippines (500 MT).
Hog futures also underwent some divergences Wednesday. Futures bucked the downward trend Thursday morning. In contrast, to the cattle pit, deferred hog futures are trading at sizeable discounts to current cash values. October hog futures advanced 0.22 cents to 83.55 cents/pound in early Thursday action, while December climbed 0.25 cents to 80.75.