Lean hog futures closed with mixed action on Thursday, with April down 97 cents and most other contracts up 37 cents to $1.50. USDA’s national average base hog negotiated price was reported at $85.67 on Thursday afternoon, down 41 cents from the day prior. The CME Lean Hog Index was down 16 cents from the previous day at $88.00 on April 8.
Export Sales data showed 23,854 MT of pork sold in the week ending on April 3, less than half of the previous week and a 3-week low. Mexico was the largest buyer of 8,900 MT, with 3,600 MT sold to Japan. Shipments were reported at 30,100 MT, a 7-week low. Of that total, 11,700 MT was headed to Mexico, with 4,500 MT to Japan.
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USDA’s Thursday afternoon pork cutout value was another $1.06 lower at $89.70 per cwt. The butt and ham primals were reported higher. USDA’s federally inspected hog slaughter was estimated at 488,000 head on Thursday, with the week to date total at 1.951 million head. That is up 34,000 head from last week and 39,301 head above the same week last year.
Apr 25 Hogs closed at $86.000, down $0.975,
May 25 Hogs closed at $86.500, up $0.375
Jun 25 Hogs closed at $93.175, up $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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