FAS will report the week’s export sales for pork later this morning. Afternoon action in the lean hog market moved futures back into the black to close the day 2 to 77 cents higher. July hogs were the outlier, and added $1.65 to value and 88 cents to their inverse. USDA’s National Average Base Hog price for Wednesday afternoon was 61 cents higher to $119.86. The ECB price was $115.46 compared to $121.12 in the WCB. The CME Lean Hog Index was $108.13 on 6/13, up by 73 cents.
Pork cutout futures closed the midweek session mixed as October gave back 17 cents to $0.02 to $1.45 gains in the other nearby contracts. USDA’s National Pork Carcass Cutout Value was $2.88 weaker in the PM update to $105.79. USDA estimated the WTD hog slaughter at 1.401m head through Wednesday. That is down 30k head from last week and 36,000 head from the same week last year.
Jul 22 Hogs closed at $108.275, up $1.650,
Aug 22 Hogs closed at $104.325, up $0.775
Jul 22 Pork Cutout closed at $112.975, up $1.450,
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