Pork sales tumbled for another week in the USDA's latest “U.S. Export Sales Report,” falling 36 percent from last week. This week’s report showed net sales of 4,100 metric tons (MT) for 2013, primarily for Canada (1,400 MT), Japan (1,400 MT), Hong Kong (400 MT), South Korea (200 MT), and Mexico (200 MT).
Exports of 9,000 MT were primarily to Mexico (3,300 MT), Hong Kong (1,500 MT), Japan (1,200 MT), Canada (1,100 MT), and Australia (400 MT).
On Wednesday hog futures were mixed to lower as traders seemed optimistic about short-term prospects, due in part of the discount already built into the nearby August contract. Overnight futures proved somewhat stronger, reacting to surprising cash market firmness indicated in late-afternoon USDA reports on Wednesday. However, wholesale values continued their late slide, thereby seeming to bode ill for late-July prospects.
August hog futures pushed up 0.20 cents to 96.00 cents/pound in early Thursday trading, while December inched 0.10 cents higher to 82.52.