Lean Hogs Close Triple Digits Red

The Turnaround Thursday session left the lean hog complex $0.05 to $1.35 lower. The April contract ended the session with a $4.52 range, after fading from their new LOC high of $107.70. USDA’s National Average Base hog price for Thursday afternoon was $2 higher to $84.51. The CME Lean Hog Index from 2/8 was $87.22 after a 60 cent boost.     

USDA’s weekly Export Sales report showed pork bookings were 18,127 MT. That was down 40% wk/wk and down 50% from the same week a year ago. Pork shipments were down 2k MT wk/wk but still 30,390 MT. 

Pork cutout futures ended mixed with gains of 20 to 85 cents and losses of 82 cents to $1.60. USDA’s National Pork Carcass Cutout Value for this afternoon was $3.36 weaker at $101.48. Hams pulled back with a $21.81 drop. USDA estimated hog slaughter for the week at 1.898m head. That compares to 1.803m last week and 1.953m head during the same week last year. 

Feb 22 Hogs  closed at $90.175, down $0.050,

Apr 22 Hogs  closed at $103.425, down $1.350

Feb 22 Pork Cutout  closed at $99.625, up $0.200,