Lean hogs are trading with 20 to 65 cent losses in the front months on Thursday.  The national average base hog price was reported at $74.73 on Thursday morning, up $1.38 from the previous day. The CME Lean Hog Index was $84.45 on October, up 31 cents from the day prior.Â
This morning’s Export Sales report showed 43,355 MT in pork bookings during the week of 9/26, an 18-week high. Mexico purchased over half of that at 24,000 MT, with China buying 7,900 MT. Export shipments were a 3-week low, at 25,887 MT. Of that total, 10,900 MT was headed to Mexico, with 3,800 MT headed to Japan, and 2,600 MT to China.
USDA’s FOB plant pork cutout value was reported at $95.19 per cwt in the Thursday AM release, up 17 cents from the day prior. The loin, butt, and belly were the primals reported lower, with the picnic and ham leading the way higher, up $3 and $3.02. USDA estimated FI hog slaughter for Wednesday at 486,000 head, with the weekly total at 1.457 million head. That is up 5,000 head from the previous week and 1,889 head above the same week last year.
Oct 24 Hogs  are at $84.050, down $0.625,
Dec 24 Hogs  are at $76.400, down $0.350
Feb 25 Hogs  is at $79.950, down $0.200,
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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