Lean hog futures were mixed on Thursday, with nearby February down 25 cents and other contracts 30 to 45 points higher. USDA’s national base hog price was reported at $84.38 on Thursday afternoon, down $1.90 from the previous day. The CME Lean Hog Index was up another 79 cents on Jan 27 at $85.22.
USDA’s Export Sales report showed pork sales at 55,980 MT in the week ending on January 22. Sales to Mexico totaled 28,300 MT, with 15,900 MT sold to China. Shipments were tallied at 35,923 MT for that week. Mexico was the destination of 17,400 MT, with 4,100 MT to Japan.
Pork exports in November totaled 613.1 million lbs according to Census data converted to a carcass basis. That was 4.9% below last year.
USDA’s pork carcass cutout value from the Thursday PM report was $1.62 lower to $93.43 per cwt. The loin was the only primal reported higher. USDA estimated federally inspected hog slaughter for Thursday at 495,000 head, which takes the weekly total to 1.877 million head. That is 9,000 head below last week and 56,348 head below the same week last year.
Feb 26 Hogs closed at $87.700, down $0.250,
Apr 26 Hogs closed at $95.450, up $0.300
May 26 Hogs closed at $99.300, up $0.450,
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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