Hogs Sit $1.80 Lower for the Week

The hog market ended the day $0.50 to $1.95 lower, with a 2.5% loss in the May contract. The National Average Base Hog price was 75 cents weaker on Thursday to $66.92. The CME Lean Hog Index was $71.57 on 4/18, down by 7 cents. 

USDA reported 36k MT of pork export sales for the week that ended 4/13. That was up 33% from last week but matched the 4-week averag. Pork shipments were shown as 34,148 MT for a YTD total of 459k MT. That is 4% ahead of last year’s pace. 

Pork cutout futures prices closed at the lows for the day with $1.02 to $2.35 losses. USDA’s national Pork Carcass Cutout value was up by $1.34 to $78.15 on Thursday. USDA estimates the week’s FI hog slaughter at 1.905m head through Thursday. That compares to 1.79m last week and 1.801m during the same week last year. 

May 23 Hogs  closed at $76.825, down $1.950,

Jun 23 Hogs  closed at $85.075, down $1.350

May 23 Pork Cutout  closed at $82.700, down $2.325,