Nearby lean hog futures are 40 to 87 cents in the red and trading near their lows for the day into midday. April is the exception with a 32 cent gain through midday. USDA’s National Average Base Hog price was 46 cents stronger to $77.83 in the Friday AM report. The CME Lean Hog Index for 2/22 was 20 cents stronger at $77.73.
USDA’s weekly Export Sales report had pork bookings at 51,916 MT for the week that ended 2/16. That was a high for the year as the most since the week of 12/15. Mexico was the top buyer for the week with nearly half of the total. The week’s pork export was 29,227 MT for an accumulated total of 203,151.
Pork cutout futures are also in the red, though volume and OI remains thin. USDA’s National Pork Carcass Cutout value was $84.56 this morning, down by $1.47. USDA estimated FI hog slaughter for the week through Thursday at 1.741m head. That is down from 1.92 million last week and is 153k head behind the same week last year’s pace.
April 23 Hogs are at $86.200, up $0.000,
May 23 Hogs are at $95.550, down $0.400
April 23 Pork Cutout is at $92.825, down $0.350,
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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