According to the USDA’s latest Weekly Export Sales report, pork net sales of 4,300 metric tons (MT) for 2014 were up 26 percent from the previous week but down 59 percent from the prior four-week average. The report has shown pork net sales slipping over much of the last month after reaching 17,100 MT in late-June.
The USDA reported increases for Japan (1,400 MT), Mexico (600 MT), South Korea (600 MT), Hong Kong (500 MT), and China (200 MT). Decreases were reported for Canada (100 MT).
The Weekly Export Sales report also showed pork exports of 10,100 MT were up 47 percent from the previous week and 13 percent from the prior 4-week average. The primary destinations were Mexico (3,200 MT), Japan (1,500 MT), Canada (1,100 MT), the Philippines (700 MT), and Hong Kong (600 MT).
Platts, McGraw Hill Financial explains examining net sales figures veruses export numbers. Net sales are considered "a more appropriate" indicator of the state of the export market. The difference between weekly net exports sales and exports is timing. Read more here.
Hog futures tumbled in early trading on Thursday, according to Doane Advisory Service. August hog futures dove 1.17 cents to 123.40 cents/pound as Thursday dawned over Chicago and December plunged 2.30 cents to 99.20.