
The May hog contract is up by 7 cents ahead of expiration. The other nearbys are trading 22 to 82 cents weaker at midday. The USDA National Average Base Hog price for Thursday afternoon was 19 cents higher at $77.31. The CME Lean Hog Index was $74.64 on 5/8, which was up by 22 cents.
The FAS data had 30,043 MT of pork sold for export during the week that ended 5/4. That was down from 49k MT last week, but was 14% above the same week last year. Shipments were 37k MT for the week. That set accumulated exports at 572,664 MT as of 5/4, a 7% lead over last year’s pace.
Pork cutout futures were $0.50 to $1.60 weaker on Thursday. USDA’s National Pork Carcass Cutout Value was up by 62 cents in the AM quote to $83.84. Bellies were $5.56 weaker. USDA estimated the week’s FI hog slaughter at 1.852m head through Thursday. That compares to 1.857m last week and 1.882m head during the same week last year.
Jun 23 Hogs are at $83.625, down $0.250,
Jul 23 Hogs are at $84.650, down $0.475
Jun 23 Pork Cutout is at $88.000, down $0.075,
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.