Lean hog futures are trading with 15 to 75 cent losses in the front months on Thursday. USDA’s national base hog price was not reported on Thursday morning due to light volume. The CME Lean Hog Index was 23 cents higher on Feb 3 at $86.06.
The weekly Export Sales report indicated 35,107 MT of pork sold in the week ending on January 29, down 37.3% from last week and 30.7% below the same week last year. Export shipments were 37,622 MT in that week, up 4.7% from the same week last year.
USDA’s pork carcass cutout value from Thursday morning report was $1.31 lower to $94.31 per cwt. The rib was the only primal reported lower, with the picnic (+$3.53) and belly (+$4.76) leading the way higher. USDA estimated federally inspected hog slaughter on Wednesday was 495,000 head, taking the weekly total to 1.416 million head. That was 34,000 head above last week but 32,293 head below the same week last year.
Feb 26 Hogs are at $87.250, down $0.750,
Apr 26 Hogs are at $98.225, down $0.225
May 26 Hogs are at $101.600, down $0.150,
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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