Hogs Up Triple Digits

Lean hog futures are trading with triple digit gains of $1.07 to $1.85, save for another 22 cent drop for the Feb contract. USDA’s National Average Base hog price for Thursday was $0.81 higher to $87.16. The CME Lean Hog Index from 1/31 was another $0.99 higher to $83.14.    

Export Sales data showed pork bookings were 30,421 MT for the week that ended 1/27. That was down 38% from the week prior, and was 35% below the same week last year. Pork shipments were seen at 32,431 MT for the week, which brough the YTD total to 114,650 MT. That trails last year’s pace by 23% through the first 4 weeks. 

Pork cutout futures are UNCH to 15 cents higher nearby, though the June contract is $1.25 higher at midday. USDA’s National Pork Carcass Cutout Value was $1.04 weaker in the AM report to $95.40. Federally inspected hog slaughter for the week through Wednesday was estimated at 1.387 million head. That compares to 1.394m head last week and 1.463m head during the same week last year. 

Feb 22 Hogs  are at $87.225, down $0.125,

Apr 22 Hogs  are at $100.800, up $1.675

Feb 22 Pork Cutout  is at $96.825, up $0.150,