Lean hog futures closed 20 to 35 cents higher on Thursday, with August down 27 cents. USDA’s national base hog price had a weighted average of $113.61 on Thursday afternoon, down $1.36 from the previous report. The CME Lean Hog Index was up 64 cents at $109.23 on July 22.
Export Sales data showed 17,003 MT of pork sold in the week ending on July 17, down from the week prior. Mexico was the top buyer of 7,200 MT. Shipments were slightly improved from last week, up 27,573 MT. Of that total, 11,800 MT was sent to Mexico.
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USDA’s Thursday afternoon FOB plant pork cutout value was 30 cents higher at $117.54 per cwt. The butt, picnic, and ham were all reported higher. USDA estimated hog slaughter at 475,000 head for Thursday, with the weekly total estimated at 1.871 million head. That was 1,000 head above last week and down 23,317 head from the same week last year.
Aug 25 Hogs closed at $108.200, down $0.275,
Oct 25 Hogs closed at $91.100, up $0.200
Dec 25 Hogs closed at $82.925, up $0.350,
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.
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