Front month lean hog futures were mixed at the close within 85 cents of UNCH. The now lead month July and the 2024 contracts saw pressure, as the other 2023 futures closed 15 to 62 cents in the black. USDA’s National Average Base Hog price was $93.32 after a 94 cent drop on Thursday. The CME Lean Hog Index for 6/13 was $86.25, up by another 84 cents.
Weekly pork bookings were 26,670 MT according to the latest Export Sales report. That was a 3-week high but still down 4% from the same week last year. Mexico was the top buyer for the week. The accumulated pork commitments were marked at 987k MT as of 6/8.
Pork cutout futures ended the session mostly higher led by a $1.57 gain in the August contract. USDA’s National Pork Carcass Cutout Value was $1.16 higher to $90.89 on Thursday afternoon. USDA estimated FI hog slaughter for the week through Thursday at 1.853 million head. That compares to 1.857m last week and 1.868 million during the same week last year.
Jul 23 Hogs closed at $91.925, down $0.850,
Aug 23 Hogs closed at $90.300, up $0.625
Jul 23 Pork Cutout closed at $95.625, down $0.275,
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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