Lean hogs are trading on either side of unchanged at midday, with April down a quarter and other contracts up a tick to 70 cents. Friday morning’s USDA’s national average base hog negotiated price was reported at $90.25, up 88 cents from the day prior. The CME Lean Hog Index continues climbing, up 24 cents on February 19 at $91.22.
Export Sales data showed a total of 25,628 MT in the week that ended on February 13, back up from last week’s low. Mexico was the top buyer of 5,700 MT, with 4,100 MT sold to Japan. Shipments totaled 29,954 MT, a 4-week low. The top destination was Mexico at 12,200 MT, with 4,000 MT headed to South Korea and Japan.
USDA’s FOB plant pork cutout value was back up $5.16 on Friday morning at $99.19 per cwt. The belly continues to be the main driver, this time to the upside, rising $18.17. USDA’s Federally inspected hog slaughter was estimated at 473,000 head on Thursday, taking the weekly total to 1.930 million head. That is 29,000 head below last week and down 25,954 head from the same week last year.
Apr 25 Hogs are at $88.275, down $0.250,
May 25 Hogs are at $92.475, up $0.025
Jun 25 Hogs is at $100.975, up $0.675,
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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