Lean hog futures were 22 cents to $1.37 lower on the Thursday session. USDA’s national base hog price was reported at $91.39 on Thursday afternoon, down $1.50 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. Mexico was the buyer of 5,200 MT, with 3,700 MT to Japan. 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 PM report was up $1.88 at $100.29 per cwt. The belly and ham primals were the only reported lower. USDA estimated Thursday’s federally inspected hog slaughter at 492,000 head, taking the weekly total to 1.968 million head. That is 24,000 head above last week and 22,381 head above the same week last year.
Apr 26 Hogs closed at $94.350, down $0.850,
May 26 Hogs closed at $99.150, down $0.900
Jun 26 Hogs closed at $108.175, down $1.075,
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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