Lean hog futures are trading with losses of $1 to $1.30 at midday. Preliminary open interest was down 2,085 contracts on Wednesday. USDA’s national base hog price was reported at $112.75 on Thursday morning, up 94 cents from the day prior. The CME Lean Hog Index was down 29 cents at $107.04 on July 8.
Export Sales data showed a total of 24,263 MT of pork sold in the week ending on July 3. China was the top buyer of 8,800 MT, with 7,300 MT sold to South Korea. Shipments were 30,093 MT in that week, with 12,700 MT headed to Mexico.
USDA’s Wednesday PM FOB plant pork cutout value was back up a nickel at $113.48. The belly, ham, and picnic primals were reported higher, with the rest falling lower. Wednesday’s estimated hog slaughter was 478,000 head by the USDA, with the week to date total at 1.425 million head following a revised Tuesday total. That was up 11,000 head from last week and 9,083 head larger than last year.
Jul 25 Hogs are at $107.100, up $0.000,
Aug 25 Hogs are at $106.200, down $1.025
Oct 25 Hogs is at $92.475, down $1.300,
