Lean hog futures are trading with triple digit gains of as much as $3.62 led by the July contract. Back month eb is up by just 27 cents, at a now $21.45 discount to June. USDA’s National Average Base Hog price for Thursday was $111.34 after a 64 cent pullback. CME’s Lean Hog Index for 5/24 was up by 84 cents to $103.87.
The weekly Export Sales report showed pork bookings were 36,703 MT from the week that ended 5/19. Mexico and Canada were the weeks top buyers, followed by 5.3k MT sold to China. USDA reported 32,999 MT of pork was shipped through the week, bringing the YTD total to 599,028 MT.
Pork cutout futures are also triple digits higher, save for a 97 cent pullback in the August contract. USDA’s National Pork Carcass Cutout value was $1.82 stronger this morning to $108.89. USDA estimated the FI hog slaughter at 1.403m head for the week through Wednesday. That is down 23k head wk/wk and is trailing the same week last year’s pace by 45k head.
Jun 22 Hogs are at $111.350, up $2.300,
Jul 22 Hogs are at $111.775, up $3.825
Jun 22 Pork Cutout is at $116.050, up $2.050,
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