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 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. CFTC’s weekly CoT report will release positions data as of Tuesday’s settle after the close.
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,
