Friday’s 15 to 70 cent gains are keeping the lean hog market off the week’s high for the weekend, but April is still at a net $2.15 gain WTDUSDA’s National Average Base Hog price increased by 58 cents to $73.20. The CME Lean Hog Index increased another $1.17 to $77.97 for 2/20.
The weekly Export Sales report showed pork bookings were 29k MT for the week that ended 2/15. That was down from +30k the past two weeks and from 43k MT 3-weeks back. USDA did revise the massive sale from last week, citing errors for China and Mexico. Pork commitments are now listed at 456.3k MT for the year, which is 3% ahead of last year’s pace.
USDA’s National Pork Carcass Cutout Value was 37 cents stronger to $92.26 in the AM report. USDA had FI hog slaughter listed at 1.96m head for the week through Thursday. That compares to 1.955m head last week and to 1.72m head during the same week last year.
April 24 Hogs are at $87.325, up $0.125,
May 24 Hogs are at $90.675, up $0.350
April 24 Pork Cutout is at $93.225, down $0.025,
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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