Hog futures showed contracts 20 to 97 cents higher at the close on Friday. USDA’s National Average Base Hog price for Thursday afternoon was 44 cents weaker to $93.01. The CME Lean Hog Index for August 15 was 90 cents lower to $101.03.
The weekly Export Sales report showed an 8-week high of 28,737 MT of pork sold for 2023 shipment in the week ending on August 10. Export shipments were shown at a 6-week high of 28,638 MT.
Pork cutout futures were up 75 cents in the nearby October contract. The National Pork Carcass Cutout Value was 52 cents higher on Thursday PM to $107.79. Half of the primals were lower, with the rib down 74 cents, the ham 39 cents lower, and the belly losing $2.44 as the seasonal demand starts to slow. Estimated FI hog slaughter was shown at 476,000 head for Wednesday by the USDA, for a weekly total of 1.884 million head. That is up 60,000 head vs. last week but just 3,000 head larger vs. the same week last year.
Oct 23 Hogs closed at $79.150, up $0.975,
Dec 23 Hogs closed at $72.000, up $0.825
Oct 23 Pork Cutout closed at $90.725, up $0.750,
On the date of publication, Alan Brugler 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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