Friday Market for Hogs Follows Weakness

Front month lean hog futures gave back $0.12 to $2.95 on Thursday. The summer months were the weakest, though July is still a $1.90 premium to August and a $20.75 premium to December. USDA’s National Average Base Hog price was $117.99 on Thursday, up by 71 cents. The CME Lean Hog Index was down by 32 cents on 6/7 to $107.48.    

USDA weekly pork export sales were 16,710 MT for the week that ended 6/2. That was a 7-wk low. Pork exports from the week were 24,309 MT, which was a 22% drop wk/wk and a 12% drop yr/yr. China shipped only 3,300 MT.  Accumulated pork shipments reached 654,508 MT through 6/2. 

Pork cutout futures closed with $1.17 to $3.10 losses on Thursday. USDA’s National Pork Carcass Cutout for Thursday was $109.09 after a $4.62 boost. USDA estimates the federally inspected hog slaughter was 1.907m head for the week through Thursday.  

Jun 22 Hogs  closed at $106.975, down $0.875,

Jul 22 Hogs  closed at $105.000, down $2.950

Jun 22 Pork Cutout  closed at $108.025, down $2.025,