The weekly hog charts sit at $$3.50 gains for the week after setting new LoC highs for some contracts. Thursday’s session added 7 to 32 cent gains though futures were off their session highs by as much as $1 for the close. USDA’s National Average Base Hog price was $1.19 stronger to $87.23 on Thursday afternoon. The 4/2 CME Lean Hog Index was another 23 cents stronger to $85.15.
Export Sales data tallied pork sales at a 3-week low of 28,708 MT during the week of 3/28. Export Shipments were seen at a 6-week high of 34,900 MT.
USDA’s National Pork Carcass Cutout Value was up by $3.24 for Thursday afternoon to $98.15. Bellies were up by $11.53 to $131.87 cwt. The USDA FI hog slaughter estimate for the week through Thursday was 1.829 million head. That’s compared to 1.946m for last week and 1.93 million during the same week last year.
Apr 24 Hogs closed at $88.350, up $0.375,
May 24 Hogs closed at $95.075, up $0.075
Apr 24 Pork Cutout closed at $97.800, down $0.000,
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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