Front month lean hog prices closed the Thursday session with 32 to 82 cent losses, but are still in the black on net for the week due to the Monday strength. The USDA National Average Base Hog Price was $2.47 weaker on Thursday afternoon to $85.23. The CME Lean Hog Index was down by another 60 cents to $90.28 on 11/7.Â
USDA’s weekly Export Sales report had 10,752 MT of pork sold during the week that ended 11/3. That was a 46-wk low and included 3.5k MT of cancelations from Australia and 2.3k MT canceled from Japan. Pork exports from the week were 28.3k MT for a yearly total of 1.249 MMT – trailing last year’s pace by 19%.Â
Pork cutout futures closed with a 5 cent gain in the December contract, but down by 32 to 57 cents in the other nearbys. USDA estimated the federally inspected hog slaughter at 1.951m head for the week through Thursday. That is up 6,000 head from last week and 79,000 head more than the same week last year.Â
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Dec 22 Hogs  closed at $84.875, down $0.400,
Feb 23 Hogs  closed at $88.825, down $0.325
Dec 22 Pork Cutout  closed at $95.675, up $0.225,
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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