Lean hog futures are giving back gains, with Thursday showing losses of $1.20 to $1.60 at midday. USDA’s national base hog price was not reported on Thursday morning due to light volume. The CME Lean Hog Index was 34 cents higher on March 3 at $90.18.
Export Sales data from USDA showed 36,103 MT of pork sold in the week of 2/26. That was back down 15.3% from the previous week. Shipments were at 37,842 MT in that week, which was a drop of 7.9% wk/wk.
USDA’s pork carcass cutout value from the Thursday AM report was up 56 cents at $99.18 per cwt. The butt, picnic, and belly primals were reported lower, with the rib leading the way higher, up $5.39. USDA estimated Wednesday’s federally inspected hog slaughter at 494,000 head, taking the total to 1.453 million head for the week. That is 5,000 head below last week and 122,514 head below the same week last year.
Apr 26 Hogs are at $95.500, down $1.575,
May 26 Hogs are at $100.450, down $1.275
Jun 26 Hogs are at $109.975, down $1.225,
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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