Tuesday’s hog session ended the day nearer to the lows on $0.90 to $2.42 losses. The USDA National Average Base Hog price for Tuesday was $67.98, down by 65 cents.
China reported 150k MT of pork imports from all destinations for March. That is 11.2% above last year and has their full year total at 530,000 MT. China’s domestic pork production was 15.9 MMT in Q1 2023. That is a 5-yr high.
Pork cutout futures were $1.40 to $2.07 lower on Tuesday. USDA’s national Pork Carcass Cutout value was $1.32 stronger in the PM report to $78.93. USDA estimated Tuesday’s FI hog slaughter at 484,000 head. The week to date total was 946,000.
May 23 Hogs closed at $78.825, down $2.175,
Jun 23 Hogs closed at $85.750, down $2.425
May 23 Pork Cutout closed at $84.975, down $1.400,
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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