Lean hog futures closed the Thursday session slipping back a tick to 25 cents in the front months. The USDA national average base hog negotiated price was reported at $89.39 on Thursday afternoon, down $1.63 from the day prior. The CME Lean Hog Index was up 9 cents from the previous day at $89.41 on March 18.
Pork export sales were lagging again this week, totaling just 18,069 MT in the week of March 13, a calendar year low. Mexico was the buyer of 4,700 MT, with Japan buying 3,500 MT. Shipments totaled 32,851 MT, back down from last year. Mexico was the destination of 11,000 MT, with 6,200 MT headed to South Korea.
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Thursday afternoon’s FOB plant pork cutout from USDA was up 67 cents at $95.86 per cwt. The picnic and ham were the only primals reported lower. USDA estimated the Thursday Federally inspected hog slaughter at 471,000 head, taking the week to date total to 1.804 million head. That is down 150,000 from last week and 142,667 head below the same week last year.
Apr 25 Hogs closed at $85.550, down $0.025,
May 25 Hogs closed at $88.600, down $0.100
Jun 25 Hogs closed at $96.250, down $0.250,
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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