So far through Thursday the hog market is down 45 cents to $1.10. July contracts are the exception with a midday gain of 20 cents. USDA’s National Average Base Hog price was $1.63 stronger to $94.07. The 6/5 CME Lean Hog Index was 65 cents higher to $81.86.
The weekly Export Sales report had 25,473 MT of pork bookings for the week that ended 6/1. That was a 12% increase for the week and was up 52% from the same week last year. Mexico and China were the top buyers. Accumulated pork exports were 706,844 MT as of 6/1 according to the weekly report. Census conversions put the official volume at 2.25b pounds through April. April’s pork export was 580.6m lbs.
Pork cutout futures are working 0.7% to 2.4% lower through midday. USDA’s National Pork Carcass Cutout Value was $87.47 on Thursday morning to $2.32. USDA estimated the week’s FI hog slaughter at 1.398 million head through Wednesday, which is 29k head behind the same week last year.
Jun 23 Hogs are at $87.125, down $0.575,
Jul 23 Hogs are at $86.925, down $0.000
Jun 23 Pork Cutout is at $88.500, down $0.600
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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