In the USDA’s latest “U.S. Export Sales” report, pork net sales of 8,700 metric tons (MT) were down 41 percent from last week and 33 percent lower than the four-week average.
These net sales were reported Mexico (4,800 MT), Japan (1,200 MT), Canada (1,000 MT), Ukraine (500 MT), and South Korea (400 MT). Exports of 11,700 MT were primarily to Mexico (4,400 MT), South Korea (1,600 MT), Japan (1,500 MT), Canada (1,200 MT), and Hong Kong (1,100 MT).
Doane Advisory Services reports futures surged on Wednesday in response to renewed hopes for robust seasonal gains over the next several weeks. Early Thursday hogs slipped on dipping cash and wholesale futures. February hogs skidded 0.10 cents to 86.42 cents/pound early Thursday morning, while June was stalled at 103.32.