Lean hog futures are working 12 to 45 cents lower on Friday to round out the week with $3+ losses. The exception at midday is the May contract with a 2c gain so far. USDA’s National Average Afternoon Base Hog price for Thursday was 10 cents stronger to $46.36. The CME Lean Hog Index firmed up by 12 cents on 12/26 to $65.71.
The week’s pork export demand was 23,825 MT. That was a 4-wk low and left commitments at 1.766 MMT.
Open interest in pork cutout futures remains sub-100 with some contracts remaining UNCH for 10 days. The National Pork Carcass Cutout Value was 9 cents stronger to $82.61 on Thursday afternoon. The loins were +$2.30 cwt. and the bellies were +$2.57, while the other primals were lower for the day. The week’s FI hog slaughter was estimated at 1.429m head through Thursday, which compares to 1.463 million during the same week last year.
| Feb 24 Hogs | closed at $68.150, down $0.300, |
| Apr 24 Hogs | closed at $74.925, down $0.075 |
| Feb 24 Pork Cutout | closed at $81.725, unch,, |
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