Front month lean hog prices were down by $0.55 to $1.25 on Thursday. That reduced the October contract’s weekly gain to $1.82 so far. The National Average Base Hog price dropped back 65 cents in the PM update to $78.44. The CME Lean Hog Index for 9/12 was $86.48, up by 35 cents.
The weekly Export Sales report showed 23,052 MT of pork was sold during the week that ended 9/7. That was down from 26.3k MT LW and was 6.5k MT lighter than the 5-wk average. Pork exports were also down 32% wk/wk with 20,720 MT shipped. Total exports remain 7.6% ahead of last year’s pace with 1.096 MMT through 9/7.
Pork cutout futures ended the session $0.62 to $0.92 on the day. USDA’s National Pork Carcass Cutout Value for Thursday evening was 87 cents stronger to $99.09. USDA estimated the week’s FI hog slaughter at 1.905m head through Thursday, compared to 1.929m during the same week last year.
Oct 23 Hogs closed at $83.350, down $0.625,
Dec 23 Hogs closed at $75.100, down $1.250
Oct 23 Pork Cutout closed at $94.650, down $0.625,
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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