Lean hog futures closed just off the $4 limit on Thursday, with losses of $3.25 to $3.95 at the close. USDA’s national average base hog negotiated price was reported at $89.49 on Thursday afternoon, down 37 cents from the day prior. The CME Lean Hog Index was back up 2 cents from the previous day on February 25 at $89.49.
President Trump’s 25% tariffs on Mexico and Canada are still set for a March 4 start date after some back and forth this week.
Pork export sales during the week ending on February 20 were tallied at 32,155 MT, a 3-week high. Mexico was the top buyer of 13,300 MT, with 3,500 MT sold to Japan. Shipments totaled 34,133 MT, the second largest this MY. The lead destination was Mexico at 12,900 MT, with 4,400 MT headed to Japan.
USDA’s Thursday afternoon FOB plant pork cutout value was up $4.30 at $100.96 per cwt. The loin and picnic were reported lower, with the bellies leading the charge higher, up $26.64. USDA reported the Thursday Federally inspected hog slaughter estimated at 489,000 head, taking the week to date total to 1.958 million head. That is 28,000 head above last week and 2,100 head above the same week last year.
Apr 25 Hogs closed at $84.375, down $3.925,
May 25 Hogs closed at $88.750, down $3.700
Jun 25 Hogs closed at $97.600, down $3.275,
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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