Lean Hogs Oct '19 (HEV19)

Lean hog futures saw slightly Thursday gains with contracts up 7 to 25 cents, as June was up $4.70 this week. USDA’s national average base hog negotiated price was not reported on Thursday afternoon with the 5-day rolling average at $84.74. The CME Lean Hog Index was down another 28 cents from the previous day at $85.09 on April 15. The markets will be closed on Good Friday.

This morning’s Export Sales report showed a total of just 20,548 MT sold in the week ending on April 10, a 4-week low. Japan was the top buyer of 7,100 MT, with 3,200 MT sold to Mexico. Shipments came in a 30,934 MT, which was back up from the week prior. Of that total, 11,100 MT was headed to Mexico, with 5,300 MT to South Korea.

Thursday morning’s pork cutout report from USDA was 74 cents higher, at $92.78. The loin and butt primals were reported lower, with the belly leading the charge to the upside, up $6.28. USDA’s federally inspected hog slaughter was estimated at 475,000 head for Thursday, wit... Read more