Lean hog futures are posting mixed action so far on Thursday, with contracts up 15 cents in April to down 55 cents in other front months. The USDA national average base hog negotiated price was reported at $90.40 on Thursday morning, up 35 cents 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.
Thursday morning’s FOB plant pork cutout from USDA was up 27 cents at $95.46 per cwt. The belly and butt were the only primals reported higher. USDA estimated Wednesday’s Federally inspected hog slaughter at 377,000 head, slowed by a blizzard in parts of IA today, taking the week to date total to 1.352 million head. That is down 113,000 from last week and 108,158 head below the same week last year.
Apr 25 Hogs are at $85.725, up $0.150,
May 25 Hogs are at $88.550, down $0.150
Jun 25 Hogs is at $95.950, down $0.550,
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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