Reuters reports that Pork is in high demand in supermarkets and restaurants as the distribution of federal stimulus checks has prompted consumers to spend more on food, analysts said. COVID-19 vaccinations and easing restrictions on businesses are also leading more people to eat out, they said.

The pork cut-out value increased by $1.95 per cwt to $113.86 per cwt, the USDA said.

A decline in average US hog weights is contributing to tighter US pork supplies at a time of strong sales, traders said. The average weight in the week ended 1 May was 285.1 pounds, down one pound from a week earlier and 6.3 pounds a year ago, according to USDA data.

Export demand remained solid. Pork export sales for the week ended 29 April reached 48,200 tonnes for 2021 delivery, up 36% from the previous week, according to the USDA.

CME most-active June lean hogs set a contract high of 115 cents per pound and settled up 0.050 cent at 114.475 cents per pound. July hogs set a contract high for the fifth consecutive day and ended up 0.175 cents at 114.650 cents per pound.

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