Hog Traders Look to Close Out the Week
Lean hog futures closed out July with gains of a dime to 60 cents on Thursday. USDA’s national base hog price was back down $1.67 from the previous day, at $111.67 on Thursday afternoon. The CME Lean Hog Index was up a dime at $110.51 on July 29.
Export Sales for pork totaled 17,003 MT in the week ending on 7/24, which was a 6-week low. Shipments were tallied at 27,573 MT, back up from the week prior.
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USDA’s Thursday PM FOB plant pork cutout value was $2 lower at $114.00 per cwt. The ham was the only primal reported higher with the belly leading the charge lower, down $10.83. USDA estimated hog slaughter at 479,000 head for Thursday, with the week to date total at 1.859 million head after a revised Wednesday total (8,000 head lower). That was 2,000 head below last week and down 45,418 head from the same week last year.
Aug 25 Hogs closed at $107.125, up $0.100,
Oct 25 Hogs closed at $89.575, up $0.375
Dec 25 Hogs closed at $81.725, up $0.525,
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.
