
The nearby and October hog futures were lower on Thursday with losses of 42 to 67 cents. Meanwhile the summer months were up by 5 to 17 cents. USDA’s National Average Base Hog price was another 44c lower to $78.58 on Thursday. The CME Lean Hog Index was $79.09, up by 18 cents for 3/6.
USDA’s weekly Export Sales report showed 22k MT of pork was sold for export during the week that ended 3/2. That was down 29% from last week and by 13% from the same week last year. The YTD total is 263,828 MT – a 0.4% lag from last year’s pace.
Pork cutout futures were mostly lower on Thursday, save for a 22 cent bounce in the May. Open interest continues to be limited. USDA’s National Pork Carcass Cutout value was up by 73 cents on Thursday afternoon to $88.39. USDA estimated federally inspected hog slaughter at 1.912m head for the week through Thursday. That is 9,000 head behind last week, but is 15k head more than the same week last year.
Apr 23 Hogs closed at $85.075, down $0.675,
May 23 Hogs closed at $92.750, down $0.425
Apr 23 Pork Cutout closed at $91.625, down $0.700,
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.