Lean hog futures are trading with triple digit midday losses of as much as $3.15 in the December contract. The USDA National Average Base Hog Price was $91.65 on Thursday morning after a $6.66 drop. The 10/25 CME Lean Hog was $94.47, after a 34 cent dip.Â
USDA had weekly pork export sales as 20,347 MT, led by 16.9k MT booked by Mexico and 5.6k MT to China. USDA’s weekly data had 30.7k MT shipped – a 16-wk high, for an accumulated export of 1.19 MMT. That is still below last year’s pace by 19.3%.Â
Pork cutout futures are also in the red with midday losses of as much as $1.27. The USDA Pork Cutout Value for Wednesday was $2 stronger in the AM report to $99.74. USDA estimated the week’s FI hog slaughter at 1.464m head through Wednesday. That compares to 1.457m head last week and from 1.444m head during the same week last year. Â
Dec 22 Hogs  are at $85.300, down $3.200,
Feb 23 Hogs  are at $88.425, down $2.575
Dec 22 Pork Cutout  is at $95.750, down $0.975,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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