The April hog contract faded into the afternoon, ending the day near the low on a 47c loss. The other contracts stayed near the highs for the session with 45 to 65 cent gains. USDA’s National Average Base Hog price was 95 cents higher on Thursday to $77.17. The CME Lean Hog Index was up by another 44 cents to $81.31 on 3/5.
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 was 34 cents weaker to $91.15 on Thursday afternoon. USDA reported FI hog slaughter at 1.909 million head for the week through Thursday. That is 50k head behind last week’s pace and is 5.6k head behind the same week last year.
Apr 24 Hogs closed at $84.525, down $0.475,
May 24 Hogs closed at $91.225, up $0.450
Apr 24 Pork Cutout closed at $92.200, down $0.225,
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