Friday’s lean hog futures market is down by as much as 3% at midday. The USDA National Average Base Hog price was $5.76 lower on Thursday to $78.98. Wednesday was $1.95 higher at $84.74. The 5/15 CME Lean Hog Index was $77.17 after a 67 cent increase.
Dalian Live Hog Prices in China were 285 yuan weaker this week to 14,655 yuan/MT (~ $94.85 cwt.).
USDA’s weekly Export Sales report showed 32k MT of pork was booked for the week that ended 5/11. That was a 6% increase for the week and was up 32% from the same week last year. Pork shipments were 36.8k MT for the week, which was above the year’s average 32k MT/wk. The full season total reached 609k MT, which is 7% ahead of last year’s pace.
The pork cutout futures are working with $0.67 to $1.90 losses so far. USDA’s National Pork Carcass Cutout Value was up by 66 cents to $83.73 in the PM report. USDA estimated the week’s federally inspected hog slaughter at 1.87 million head, which is up 18k from last week but down from 1.893 million during the same week last year.
Jun 23 Hogs are at $83.150, down $2.150,
Jul 23 Hogs are at $83.200, down $2.400
Jun 23 Pork Cutout is at $88.225, down $0.675,
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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