Lean hog futures closed Thursday’s trade $0.40 to $1.62 weaker. June hogs had bounced over $10 from April 5th to the 19th, but have since then given back a net $5.90. Thursday afternoon’s National Average Base Hog price was $4.06 stronger to $106.04. CME’s Lean Hog Index for April 18 was $100.50, up by another 17 cents.
USDA’s FAS reported 12,937 MT of pork was sold for export during the week that ended 4/14. That was down from 24k MT from the week prior and down from 41k MT from the week of 3/31. Pork shipments were shown as 28,237 MT from the same week, which was down 12% wk/wk and down 36% yr/yr. Accumulated pork shipments trail last year’s pace by 24% with 439,604 MT shipped.
Pork cutout futures went home $1.05 to $1.80 weaker on Thursday. USDA’s National Pork Carcass Cutout Value from Thursday was $1.71 higher to $110.20. USDA’s estimate for FI hog slaughter for the week through Thursday was 1.797m head. That is down 101k wk/wk and 138k head yr/yr.
May 22 Hogs closed at $110.850, down $1.625,
Jun 22 Hogs closed at $117.175, down $1.575
May 22 Pork Cutout closed at $117.450, down $1.800,
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