Hogs Slip Lower on Thursday
Lean hog futures saw losses of 35 to 90 cents across most contracts on Thursday. USDA’s national average base hog negotiated price was reported at $95.29 on Thursday afternoon, down a penny from the day prior. The CME Lean Hog Index was up another 49 cents on May 20, at $92.34.
Weekly Export Sales data showed a total of 37,391 MT of pork sold in the week of 5/15. That was a 7-week high. Mexico was the top buyer of 14,400 MT, with 7,800 MT sold to China. Shipments were tallied at 28,547 MT, at the largest in 5 weeks. The largest destination was Mexico at 12,800 MT, with 4,400 MT sold to Japan.
USDA’s FOB plant pork cutout value from Thursday afternoon was reported at $100.27, back up 23 cents. The butt, rib, and ham primals were all reported lower. Federally inspected hog slaughter for Thursday was estimated at 479,000 head by the USDA, with this week’s total at 1.928 million head. That was up 14,000 head from the previous week and 10,006 head above the same week last year.
Jun 25 Hogs closed at $98.700, down $0.825,
Jul 25 Hogs closed at $102.050, down $0.475
Aug 25 Hogs closed at $102.000, down $0.350,
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.