Lean hog futures are trading with 17 cent to $1.50 gains. The national average base hog price was not reported on Thursday morning due to light volume, with the 5-day rolling average at $75.52. The CME Lean Hog Index was reported at $84.47 on October 8, up 25 cents from the day prior.
USDA export sales totaled 50,627 MT in the week of 10/3, which was a 14-week high. Mexico was the lead buyer of 27,200 MT, with 7,200 MT sold to Japan. Shipments were 22,770 MT, the lowest since last December. Of that total, 10,200 MT was to Mexico, with 4,200 MT to Japan.
USDA’s FOB plant pork cutout value was reported at $94.85 per cwt in the Thursday AM release, back down 35 cents from the day prior. The belly again carried the load, only to the downside this time, $7.52 lower. The loin was up $4.66, with the butt $4.48 higher. USDA estimated FI hog slaughter for Wednesday at 486,000 head, with the week to date total at 1.441 million head. That is down 16,000 head from the previous week and 10,730 head below the same week last year.
Oct 24 Hogs are at $84.100, up $0.175,
Dec 24 Hogs are at $77.075, up $1.500
Feb 25 Hogs is at $80.450, up $1.000,
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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