Lean hog futures added to the midday gains on Thursday to close $1.40 to $1.90 higher. USDA’s national base hog price had a weighted average of $110.70 this afternoon, down $2.02 from Wednesday. The CME Lean Hog Index was up a penny at $107.20 on July 15.
USDA’s FOB plant pork cutout value for Thursday morning was $1.58 higher at $116.32 per cwt. The rib was the only primal reported lower. Thursday’s USDA estimated hog slaughter was 473,000 head, taking the weekly total to 1.870 million head. That was 21,000 head below last week and 38,059 head lower than the same week last year.
USDA reported weekly pork export sales were 17,100 MT in the week ending July 10. That was down about 30% from the previous week Mexico and Japan were the lead buyers. Export shipments for the week totaled 26,500 MT with the largest quantities going to Mexico and China.
Aug 25 Hogs closed at $105.825, up $1.400,
Oct 25 Hogs closed at $90.600, up $1.900
Dec 25 Hogs closed at $82.325, up $1.875,
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.
