Hogs settled the Thursday session with 20 to 92 cent losses across most contracts. July, which expires on Friday, was the exception, up 42 cents. USDA’s National Average Afternoon Base Hog price for Thursday was $2.97 lower from yesterday’s report to $119.45. The CME Lean Hog Index for 7/12 was $112.82 up another 25 cents.
The weekly Export Sales report showed pork sales in the week of 7/7 at a 5-week low of 18,277 MT. Mexico was the top buyer of 10,100 MT, as Japan was next in line at 3,400 MT. Export shipments were the lowest this year at 23,122 MT.
Pork cutout futures were a dollar in July, with other contracts down 17 cents to $1.57. USDA’s National Pork Carcass Cutout Value for Thursday afternoon was $118.51, a 23 cent increase from the day prior. USDA estimated the week’s FI hog slaughter at 1.797 million head through Wednesday. That is down 51,000 head from the same week last year.
Jul 22 Hogs closed at $114.925, up $0.425,
Aug 22 Hogs closed at $109.575, down $0.925
Jul 22 Pork Cutout closed at $117.000, up $1.000,
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