Lean hogs are weaker so far at midday, with contracts down 10 to 55 cents. The USDA National Base Hog price was reported not reported on Thursday morning due to light volume. The CME Lean Hog Index was $90.77 on July 23, up 69 cents from the previous day.
This morning’s Export Sales update showed 30,200 MT of pork sold in the week that ended on 7/18, a 28% increase from last week. Shipments totaled 32,900 MT a 3% jump from the week prior.
USDA showed a firmer tone for the FOB plant pork cutout values on Thursday morning, with the average carcass quote up $2.33 at $107.09 per hundred weight. That gain came from all but the rib, as the butt led the way, up $8.32. USDA estimated Wednesday’s FI hog slaughter at 479,000 head, with the WTD total at 1.413 million head. That is down 21,000 head from last year and 16,962 head above year ago.
Aug 24 Hogs are at $93.675, down $0.100,
Oct 24 Hogs are at $77.500, down $0.525
Dec 24 Hogs is at $69.725, down $0.475,
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