Lean hog futures are down 40 to 60 cents so far on Thursday. USDA’s national base hog price was not reported on Thursday morning due to low volume. The CME Lean Hog Index was down another 4 cents on March 31 at $90.41. Thursday will be the last trade day for the week as the markets are off for Good Friday.
USDA’s Export Sales report indicated 53,049 MT of pork sold in the week of 3/26.That was the largest for the calendar year. Shipments were 39,758 MT in that week, a 5-week high.
Monthly trade data from Census converted to a carcass basis showed pork exports at 574.24 million lbs. That was the 4th largest on record for February and down 2.7% from January.
USDA’s pork carcass cutout value from the Thursday AM report was up $2.23 at $97.81 per cwt. The rib and picnic primals were the only reported lower. USDA estimated Wednesday’s federally inspected hog slaughter at 491,000 head, with the week to date total at 1.477 million head. That is 7,000 head below last week and 33,573 head larger than the same week last year.
Apr 26 Hogs are at $90.500, down $0.425,
May 26 Hogs are at $96.300, down $0.475
Jun 26 Hogs are at $104.575, down $0.600,
On the date of publication, Austin Schroeder 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. For more information please view the Barchart Disclosure Policy here.
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