Lean Hogs Mixed Mostly Higher

Domestic lean hog prices are trading 25 cent to $1.17 higher for most nearbys, though April is down by $1.05. The National Average Afternoon Base hog price for Wednesday was $103.47 after a 49 cent dip. The 3/7 CME Lean Hog Index was down by 28 cents to $99 flat.  

USDA reported pork bookings as 25,363 MT for the week that ended 3/3. That was down by 40% on the week and by 21% compared to last year. Mexico was the top buyer. USDA reported weekly shipments at 28.5k MT to set the yearly total at 264,776 MT. 

Pork cutout futures ended the day with $0.82 to $2.05 losses, save for a dime gain in the July contract. USDA’s National Pork Carcass Cutout Value dropped $2.34 on Wednesday, with the PM report showing $107.74. USDA estimates FI hog slaughter at 1.429m head for the week through Wednesday, compared to 1.414m last week and 1.468m head during the same week last year.  

Apr 22 Hogs  are at $100.350, down $0.800,

May 22 Hogs  are at $107.275, down $0.125

Apr 22 Pork Cutout  is at $106.850, down $0.150,