Hogs Pushing Downside through Thursday
Lean hog futures are working $0.65 to $1.75 weaker so far. That has April down by $2.27 for the week. USDA’s National Average Base Hog price was 12c weaker to $80.85 on Thursday morning. The CME Lean Hog Index was $82.82 on 3/18, 28 cents stronger.
The weekly Export Sales data had 33.8k MT of pork sold for export during the week that ended 3/14. That was up 9k MT from last week but was down 10% from the same week last year. Shipments were shown at 32k MT for an accumulated export of 355k MT.
USDA’s National Pork Carcass Cutout Value was $90.51 on Thursday morning, down by $1.67. The week’s FI hog slaughter was estimated at 1.462m head through Wednesday. That compares to 1.425m head last week and is above the 1.431m head during the same week last year.
April 24 Hogs are at $84.650, down $0.650,
May 24 Hogs are at $89.875, down $1.100
April 24 Pork Cutout is at $92.525, down $1.125,
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.
