Lean hog futures are rallying another $1.60 to $2.05. USDA’s national base hog price was not reported on Thursday morning due to light volume. The CME Lean Hog Index was down 11 cents on Jan 13 at $80.39.
USDA’s Export Sales data showed pork bookings at 26,826 MT in the week of January 8. Shipments were pegged at 40,672 MT.
USDA’s pork carcass cutout value from the Thursday morning report was $1.96 higher at $93.25 per cwt. The butt primal was the only reported lower. USDA estimated federally inspected hog slaughter for Wednesday at 495,000 head, with the weekly tally at 1.481 million. That is now even with last week and 38,698 head above the same week last year.
Feb 26 Hogs are at $87.550, up $1.850,
Apr 26 Hogs are at $94.750, up $2.050
May 26 Hogs are at $98.200, up $1.625,
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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