Headed into the last trade day of the week, the front month hog contracts are sitting at $3-$4 gains from last Friday. The front month hog futures ended the session mixed with 2 to 17 cent weakness through August and 12 to 62 cent strength in the deferred months. The National Average Base Hog price for Thursday was $2.46 higher to $72.05. The CME Lean Hog Index was $71.30 on 4/25, up by 11 cents.
The weekly FAS Export Sales report had 54,018 MT of pork bookings for the week that ended 4/20. That was a 20-wk high and was 72% above the same week last year. Mexico was in the market in a big way with 32k MT of purchases – nearly matching the 4-wk average sales to all destinations. USDA had the year’s total shipment at 497,1132 MT. That is 5.9% ahead of last year’s pace; the April WASDE has a 0.7% yr/yr boost for ’23 pork exports dialed in.Â
Pork cutout futures closed mixed as well within 50 cents of UNCH. USDA’s National Pork Carcass Cutout Value for Thursday was $78.81, up by 44 cents. The week’s federally inspected hog slaughter was estimated at 1.890m head through Thursday. That is down 15k head from last week’s pace.Â
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May 23 Hogs  closed at $78.125, down $0.150,
Jun 23 Hogs  closed at $90.100, down $0.175
May 23 Pork Cutout  closed at $84.000, down $0.375,
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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