Lean hog futures are down another 77 cents to $1.50 at midday. USDA’s national base hog price was reported at $92.16 on Thursday morning, down 89 cents from the day prior. The CME Lean Hog Index was another 23 cents higher on March 10 at $91.20.
The weekly USDA Export Sales report showed 23,723 MT of pork sold in the week ending on March 5, the lowest this calendar year. Weekly shipments were 38,897 MT, which was up from the week prior.
Monthly export data converted from Census showed 590 million lbs of pork shipments in January, a 5 year high for the month.
USDA’s pork carcass cutout value from the Thursday AM report was up 24 cents at $98.65 per cwt. The butt and ham primals were the only reported lower. USDA estimated Wednesday’s federally inspected hog slaughter at 496,000 head, taking the weekly total to 1.476 million head. That is 23,000 head above last week and 13,613 head above the same week last year.
Apr 26 Hogs are at $94.425, down $0.775,
May 26 Hogs are at $98.950, down $1.100
Jun 26 Hogs are at $107.775, down $1.475,
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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