Lean Hogs Get USDA Data Today

Most of the nearby lean hog futures closed in the red on Thursday, with losses from 2 cents in June to $1.30 in October. July contracts however stayed in the black and ended the day up by 27 cents. July was at a net $2.55 gain for the week’s move. USDA’s National Average Base Hog price for Thursday afternoon was $1.01 higher to $94.12. 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 closed Thursday down by 7 cents to $1.05. USDA’s National Pork Carcass Cutout Value was 53 cents higher to $85.68 on Thursday. USDA estimated the week’s FI hog slaughter at 1.857m head through Thursday. That compares to 1.9m head during the same week last year.  

Jun 23 Hogs  closed at $87.675, down $0.025,

Jul 23 Hogs  closed at $87.200, up $0.275

Jun 23 Pork Cutout  closed at $88.700, down $0.400,