Lean hog futures rounded out the Thursday trade with contracts 20 to 82 cents higher. USDA’s national base hog price was not reported on Thursday afternoon due to thinner volume. The CME Lean Hog Index was up 54 cents on April 21 at $91.05.
Weekly Export Sales data showed a total of just 16,127 MT of pork sold in the week of 4/16, a calendar year low. Mexico was the buyer of 8,900 MT, with 3,300 MT sold to South Korea. Shipments were pegged at 38,177 MT, a 3-week high. The top destination was Mexico at 17,300 MT, with 4,900 MT headed to Japan.
USDA’s pork carcass cutout value from the Thursday PM report was down 73 cents at $97.82 per cwt. The rib and ham primals were the only reported lower. USDA estimated Thursday’s federally inspected hog slaughter at 490,000 head, taking the week’s total to 1.966 million head. That is down 2,000 head from the previous week and 183,932 head above the same week last year.
May 26 Hogs closed at $95.650, up $0.600,
Jun 26 Hogs closed at $103.450, up $0.825
Jul 26 Hogs closed at $106.425, up $0.725,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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