Baring today’s price action lean hogs are down $7-8 so far for the week. Front month lean hog futures bounced back with triple digit gains on Thursday. Counter to that, June closed $0.62 higher and May closed 20 cents in the red. USDA’s National Average Base Hog price was $2.16 weaker to $102.57. CME’s 4/26 Lean Hog Index was 55 cents weaker to $102.34.
USDA’s Export Sales report showed 31,480 MT of pork was sold during the week of 4/21. USDA also reported 29,863 MT of pork was shipped during the week, up 5.8% from last week. China took a routine 3,800 MT. Accumulated pork exports still trail last year’s pace by 27%.
Pork cutout futures went home mixed on Thursday. USDA’s National Pork Carcass Cutout Value was $104.49 in the PM report after dropping $1.02. USDA estimated FI hog slaughter at 1.903m head through Thursday. That compares to 1.928m head during the same week last year.
May 22 Hogs closed at $103.975, down $0.200,
Jun 22 Hogs closed at $110.975, up $0.625
May 22 Pork Cutout closed at $109.500, down $0.875,
/Intel%20Corp_%20logo%20on%20mobile%20phone-by%20Piotr%20Swat%20via%20Shutterstock.jpg)
/An%20image%20of%20a%20Tesla%20humanoid%20robot%20in%20front%20of%20the%20company%20logo%20Around%20the%20World%20Photos%20via%20Shutterstock.jpg)
/Alphabet%20(Google)%20Image%20by%20Markus%20Mainka%20via%20Shutterstock.jpg)
/Nvidia%20logo%20by%20Konstantin%20Savusia%20via%20Shutterstock.jpg)
