Lean hog futures are trading with 7 to 15 cent losses at midday. USDA’s national base hog price was reported at $90.92 on Thursday morning, down 35 cents from the day prior. The CME Lean Hog Index was down another 6 cents on March 24 at $91.65.
Hogs and Pigs data will be out this afternoon, with traders surveyed by Reuters looking for all hog inventory up 0.9% from a year ago, with market hogs up 1% and hogs kept for breeding down 0.2%.
Export Sales data showed 40,339 MT of pork booked in the week ending on March 19, a 5-week high. Shipments were also the highest in 4 weeks at 39,115 MT.
USDA’s pork carcass cutout value from the Thursday PM report was up 20 at $96.60 per cwt. The loin, butt, and ham were the only primals reported higher. USDA estimated Wednesday’s federally inspected hog slaughter at 497,000 head, taking the week to date total to 1.484 million head. That is 97,000 head above last week and 39,163 head larger than the same week last year.
Apr 26 Hogs are at $90.750, down $0.150,
May 26 Hogs are at $95.400, down $0.150
Jun 26 Hogs are at $104.050, down $0.075,
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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