Lean hog futures are trading with 57 cent to $1.625 losses on Thursday. The national average base hog price was reported at $75.35 on Wednesday afternoon, down 16 cents from the previous day. The CME Lean Hog Index was reported at $84.66 on October 22, up 32 cents from the day prior.
Pork export booking during the week that ended on October 17 were 22,223 MT, which was a 7-week low for 2024 bookings. Much of that was to Mexico at 17,000 MT, with China buying 8,800 MT and 4,700 MT to Australia. There was an additional 1,035 MT sold for 2025 shipment. Exports were tallied at 32,057 MT, which was back down from the week prior. Mexico was the lead destination of 11,900 MT, with 4,500 MT to China.
USDA’s FOB plant pork cutout value was reported at $97.40 per cwt in the Thursday AM release, back down 82 cents from the day prior. The rib, butt, and belly were all reported lower, with the latter down $8.10. USDA estimated the Wednesday FI hog slaughter at 489,000 head, with this week’s total at 1.465 million head. That is up 19,000 head from the previous week and 9,527 head larger than the same week last year.
Dec 24 Hogs  are at $78.550, down $1.625,
Feb 25 Hogs  are at $82.500, down $0.900
Apr 25 Hogs  is at $85.950, down $0.575,
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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