Lean hog futures closed the Thursday session with losses of $1 to $1.50. USDA’s national base hog price was reported at $112.43 on Thursday morning, up 53 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 FOB plant pork cutout value from Thursday afternoon was back up $2.09 at $114.15. The loin and rib primals were reported lower, with the rest higher led by the ham and belly. Thursday’s estimated hog slaughter was 473,000 head by the USDA, with the week to date total at 1.891 million head following a revised Wednesday total. That was up 70,000 head from last week but 736 head below last year.
Jul 25 Hogs closed at $107.250, up $0.150,
Aug 25 Hogs closed at $106.225, down $1.000
Oct 25 Hogs closed at $92.275, down $1.500,
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.
