Lean hog futures rallied to new contract highs on Thursday gaining at least $2.07 through August ’22. The October contract was also 95 cents higher, and is now a $12.90 discount to April. The National Average Base hog price was withheld for confidentiality on Thursday, though USDA’s quote for Wednesday afternoon was $2.06 higher to $91.47. The CME Lean Hog Index from 2/14 was $1.33 stronger to $91.84.
The YTD pork export shipments totaled 176,045 MT on 2/10, which was 23% below last year’s pace.
Pork cutout futures closed out with $1.80 to $1.95 gains on Thursday. USDA’s National Pork Carcass Cutout Value was $10.02 higher in the afternoon report at $116.54. Hams were up by $25.22 and the loin bounced by $11.37. USDA estimated hog slaughter at 1.885 million head for the week through Thursday. That is down 13,000 head from last week, but compares to 1.76m head during the same week last year.
Apr 22 Hogs closed at $107.575, up $2.175,
May 22 Hogs closed at $111.325, up $2.175
Apr 22 Pork Cutout closed at $113.650, up $1.800,
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