Hog futures are trading 15 to 77 cents higher so far for the last trading day of the week. April is back to the complex’s laggard role, widening the spread back to $17 vs June. USDA’s National Average Base Hog price for Friday morning was listed $3.41 weaker at $73.88. 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 AM Pork Carcass Cutout Value was up by $2.36 on Friday, to $93.51. Loins were the only weaker quote, as the other primals were stronger with bellies up by $7.37. 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.
April 24 Hogs are at $84.500, down $0.025,
May 24 Hogs are at $91.475, up $0.250
April 24 Pork Cutout is at $92.200, down $0.225,
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