Following the midweek slide, Thursday’s session was another $0.30 to $1.15 weaker at the close across the front months. USDA’s National Average Base Hog price was 54 cents weaker in the PM update to $76.82. The 2/13 CME Lean Hog Index was 54 cents higher to $75.18.
USDA reported pork export sales at 44,952 MT for the week of 2/9. That was a 5-wk high and was 145% above the same week last year. Mexico and Japan were each over 10k MT for the week’s sale. The weekly export shipment was 30,529 MT for a yearly total of 174k MT.
Pork cutout futures closed with 50 to 80 cent losses on the day. USDA’s National Pork Carcass Cutout value was $83.06 in the PM update, up by $2.12. USDA estimated FI hog slaughter for the week through Thursday at 1.92m head. That is down by 4k head from last week but remains 54k head above the same week last year.
Apr 23 Hogs closed at $85.775, down $0.725,
May 23 Hogs closed at $94.850, down $0.850
Apr 23 Pork Cutout closed at $92.400, down $0.500,
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. For more information please view the Barchart Disclosure Policy here.
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