Lean hog prices are 50 to 67 cents in the black at midday and trading near their daily highs. USDA’s National Average Morning Base Hog price was another 93 cents higher to $77.29. The CME Lean Hog Index for 3/4 was $80.87, up by 46 cents.
USDA’s weekly Export Sales report showed 36,405 MT of pork was sold during the week that ended 2/29. That is a 5 week high, led by sales to China and Mexico. Shipments were 32k MT for the week bringing the year to date total to 289k MT – a 9.6% lead over last year.
The USDA national Pork Carcass Cutout Value increased by 6 cents to $91.49, despite a $4.27 drop in the hams. USDA cited FI hog slaughter as 1.435 million head for the week through Wednesday. That is down from 1.474m head last week but is 6k head ahead of the same week last year.
April 24 Hogs are at $84.975, down $0.025,
May 24 Hogs are at $91.150, up $0.375
April 24 Pork Cutout is at $92.200, down $0.225,
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