Lean Hogs Futures Market News and Commentary
Friday lean hog trading will have expanded limits of $4.50, after futures closed today with limit losses from May-August. USDA’s National Average Afternoon Base Hog price was $1.43 higher to $102.78. WCB prices were $104.46. The CME Lean Hog Index was up another 32 cents on 4/13, to $102.70.
Pork export bookings during the week ending April 8 were just 17,229 MT, for a 15 week low. USDA reported pork exports during the week at 38,573 MT (close to the recent average). The largest chunk went to China (32% of total).
Pork cutout futures closed $0.60 to $3.37 in the red. USDA’s National Pork Carcass Cutout Value was reported at $113.37 this afternoon, after a $3.28 increase. Most primal cuts were higher, including a $10.18 increase in bellies, although butts were down $7.24. USDA estimated WTD FI hog slaughter at 1.931m head through Thursday. That is up from 1.7933m head last week.
Apr 21 Hogs closed at $103.400, down $0.200,
Jun 21 Hogs... Read more