Lean hog futures are trading with midday strength of $0.07 to $1.32 in the front months. July hogs expire next Friday, and are currently down by 45 cents. USDA’s National Average Base Hog price was delayed this morning, but was $120.72 on Thursday. The 7/5 CME Lean Hog Index was $109.93 after another 65 cents.
The weekly Export Sales report showed 31,247 MT of pork was sold during the week that ended 6/30. That was down 3% wk/wk and was down by 29% form the same week last year. Pork exports from the week were shown as 32,245 MT bringing the YTD total to 777,131 MT.
Converted Census data has monthly pork shipments at 548.7m lbs for the month of May. That was down 20% form the May record last year but was up 4% from April. YTD pork shipments trail last year by 20% with 2.618b lbs shipped through May.
Pork cutout futures are UNCH on thin OI, the August contract is the only printed trade with a 52 cent dip at midday. USDA’s National Pork Carcass Cutout Value was reported at $114.21 up by $2.02. FI hog slaughter was estimated as 1.397m head for the week through Thursday. That is up 1,000 from the same week last year and does not compare to last week due to the 4th.
Jul 22 Hogs are at $112.825, down $0.425,
Aug 22 Hogs are at $109.475, down $0.025
Aug 22 Pork Cutout is at $112.700, down $0.525,
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