USDA: Pork exports tumble

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The USDA, in its latest U.S. Export Sales report, showed that pork net sales were down from last week’s report.

This week, the USDA reported pork net sales of 13,300 MT for delivery in 2013, down from 48,400 MT last week. Primary destinations include Hong Kong (2,800 MT), South Korea (2,700 MT), Japan (2,600 MT), Canada (1,600 MT), and Mexico (1,200 MT). 

Exports of 8,000 MT – up from 7,000 MT last week – were mainly to Mexico (2,900 MT), Canada (1,200 MT), Japan (1,200 MT), Hong Kong (700 MT), and South Korea (600 MT).

On Wednesday ongoing cash firmness seemed to boost hog futures again.  Futures were boosted overnight into Thursday. The lightly traded May hog contract inched 0.10 cents higher to 87.65 cents/pound in early Thursday morning electronic trading, while the June contract gained 0.27 cents to 89.77.

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