The USDA reported pork net sales of 7,600 metric tons (MT) for 2013 in its latest “U.S. Export Sales report.”
This is 40 percent lower than last week but 85 percent above the 27-week low set in mid-July.
These net sales were primarily for Mexico (2,100 MT), Japan (1,900 MT), South Korea (1,200 MT), Canada (800 MT), and Australia (800 MT). Exports of 10,200 MT were reported to Mexico (4,000 MT), Japan (1,200 MT), Hong Kong (1,100 MT), South Korea (1,100 MT), and Canada (1,000 MT).
Wednesday’s large pork losses undercut hog futures on Thursday. Thursday’s late pork strength boosted hog futures. Signs of increasing hog and pork supplies have recently weighed upon CME swine prices. However, while cash quotes slid again yesterday, pork values rebounded substantially from big Wednesday losses and translating into moderate overnight gains in electronic trading. December hog futures surged 0.40 cents to 86.00 cents/pound as the sun rose over Chicago Friday, while April ascended 0.30 to 92.40.