Hogs Look to New Week After Strong Friday
Lean hog futures posted gains to a tick to $2.125 on Friday, with Feb up $1.77 since last Friday. The national average base hog negotiated price was reported at $79.00 on Friday afternoon, up 15 cents from the day prior. The CME Lean Hog Index was reported at $80.59 on January 8, down 46 cents from the previous day.
Pork export sales totaled 31,038 MT in the week of January 2. Shipments totaled 25,474 MT in that week. The largest destination was Mexico with 8,300 MT, with 3,000 MT to Japan.
USDA’s FOB plant pork cutout value was 88 cents higher in the Friday PM report at $91.36 per cwt. The loin, picnic, and rib primals were all reported lower, with the rest showing gains led by the belly. Federally inspected hog slaughter for last week was 2.551 million head through Saturday. That is 285,000 head larger than last week and 379,871 head above the same week last year.
Feb 25 Hogs closed at $82.550, up $0.775,
Apr 25 Hogs closed at $88.675, up $1.325
May 25 Hogs closed at $93.525, up $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. More news from Barchart