The lean hog futures market is down by 22 cents to $1.05 so far through Thursday. Dec hogs expired at $82.32. The National Average Base Hog price was 57 cents lower in the Thursday AM report, to $80.58. The 12/12 CME Lean Hog Index was $81.62 after a 15 cent bounce. Â
USDA’s FAS reported 14,359 MT of pork was sold during the week of 12/08. Mexico was the top buyer for the week with 6.9k MT. Weekly exports were 34k MT through the week were again mainly to Mexico. Total exports reached 1.409 MMT, which remains 17% behind last year. USDA also mentioned 7.7k MT of 2023 pork sales.Â
Front month pork cutout futures are trading 2 to 42 cents lower so far, save for a 57 cent gain in the June ’23 contract. were also red on the day, led by the now lead month Feb’s $1.15 drop. USDA’s National Pork Carcass Cutout value was $88.34 on Thursday morning, up by $4.07 led by picnics. USDA estimated the week’s FI hog slaughter at 1.461m head through Wednesday. That is up by 3,000 head from last week’s pace.Â
Feb 23 Hogs  are at $82.350, down $1.050,
April 23 Hogs  are at $90.025, down $0.700
Feb 23 Pork Cutout  is at $91.500, down $0.425,
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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