Hogs Posting Sharp Losses on Thursday
Lean hog futures are falling $1.125 to $2.35 so far on Thursday. USDA’s national base hog price was not reported on Thursday morning due to light volume. The CME Lean Hog Index was another 7 cents higher on March 17 at $91.93.
Export Sales data showed new pork business of 28,284 MT in the week that ended on 3/12, up 19.2% from the week prior. Shipments were at a 4-week low of 35,674 MT in that week.
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USDA’s pork carcass cutout value from the Wednesday PM report was down a nickel at $98.77 per cwt. The loin and butt primals were reported lower. USDA estimated the Wednesday federally inspected hog slaughter at 498,000 head, with the weekly total at 1.387 million head. That is 89,000 head below last week and 49,896 head above the same week last year.
Apr 26 Hogs are at $92.625, down $1.125,
May 26 Hogs are at $96.525, down $2.175
Jun 26 Hogs are at $105.175, down $2.350,
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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