Hogs Falling Back on Thursday
Lean hog futures are trading with 45 to 92 cent losses so far on Thursday. The national average base hog negotiated price was reported at $80.44 on Thursday morning, up 72 cents from the day prior. The CME Lean Hog Index was reported at $81.10 on January 14, up 11 cents from the previous day.
Export Sales data indicated a total of 30,257 MT of pork shipped in the week of January 9. Mexico was the largest buyer of 11,700 MT, with 5,000 sold to South Korea. Shipments were tallied at 38,180 MT, the largest since last April. Of that total, 16,300 MT was headed to Mexico, with 4,900 MT to Japan.
USDA’s FOB plant pork cutout value was 3 cents higher in the Thursday AM report at $90.86 per cwt. The loin, butt, and rib were the only primals reported higher, with the rest leaking lower. Federally inspected hog slaughter for Wednesday was 490,000 head, with the weed to date total at 1.453 million head. That is 35,000 head larger than last week and 149,668 head above the same week last year.
Feb 25 Hogs are at $82.200, down $0.925,
Apr 25 Hogs are at $90.475, down $0.550
May 25 Hogs is at $95.125, down $0.450,
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. More news from Barchart