The hog market has a 7 cent midday gain for the April contract, as the other front months remain another 7 to 45 cents in the red so far. USDA’s National Average Base Hog price was another 79 cents weaker on Thursday morning to $76.50. The CME Lean Hog Index was $78.67 on 3/20, down by 88 cents.
Weekly Export Sales data showed 37,957 MT of pork was sold during the week that ended 3/16. That was up 6% for the week and was 63% above the same week last year led by sales to Mexico. The week’s export total was 30,493 MT for a season’s total of 324,077 MT. That is 1.3% ahead of last year’s pace.
Pork cutout futures are trading 12 cents to $1.52 lower at midday. USDA’s National Pork Carcass Cutout value was 83 cents higher Thursday morning to $80.69. USDA estimates the week’s FI hog slaughter through Wednesday at 1.422 million head. That trails last week by 26k and last year by 2k head.
April 23 Hogs are at $76.025, down $0.050,
May 23 Hogs are at $82.600, down $0.650
April 23 Pork Cutout is at $82.300, down $0.125,
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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