Lean hog futures are extending this week’s losses, as contracts re down $2 to $2.50, with soon to expire February 15 cents lower. USDA’s national base hog price was reported at $87.00 on Thursday morning, down $1.28 from the day prior. The CME Lean Hog Index was 20 cents higher on Feb 6 at $86.52.
Export Sales data showed a total of 28,643 MT of pork sold in the week ending on 2/5. Shipments were tallied at 36,991 MT.
USDA’s pork carcass cutout value from the Thursday AM report was $2.12 higher at $95.89 per cwt. All primals were reported higher. USDA estimated federally inspected hog slaughter for Wednesday at 495,000 head, with the week to date total at 1.474 million head. That was 63,000 head above last week and 10,047 head above the same week last year.
Feb 26 Hogs are at $86.750, down $0.150,
Apr 26 Hogs are at $91.550, down $2.300
May 26 Hogs are at $95.975, down $2.050,
On the date of publication, Austin Schroeder 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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