Lean hog futures shed triple digit gains on Thursday and settled with 32 to 90 cent losses. The April contract traded within a $2.98 range during Thursday – which included setting a new life of contract high. USDA’s National Average Base hog price for Thursday afternoon was $87.49, up by another $1.13. The CME Lean Hog Index from 2/1 was another $0.15 higher to $83.29.
US pork shipments since Jan 1 total 114,650 MT. That trails last year’s pace by 23% through the first 4 weeks.
Pork cutout futures closed 30 to 62 cents in the red through May ’22. The June contract was 92 cents in the black going home. USDA’s National Pork Carcass Cutout Value was up by 77 cents in the PM report to $97.21. USDA estimates FI hog slaughter for the week through Thursday at 1.811m head. That is down 58k head from last week’s pace and trails the same week last year by 110,000 head.
Feb 22 Hogs closed at $86.450, down $0.900,
Apr 22 Hogs closed at $98.375, down $0.750
Feb 22 Pork Cutout closed at $96.050, down $0.625,
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