Lean hog futures printed a triple digit range on the session from -80c to +23c (June), and closed mostly lower. April hogs tightened the discount with a 15c gain for the day, but is still $16.40 under the June contract. USDA’s National Average Base Hog price was $1.27 stronger on Thursday afternoon to $79.70. The CME Lean Hog Index for 3/12 was 41 cents higher to $82.02.
FAS data had 24,854 MT of pork sold for export during the week that ended 3/7. That was down from 36k MT the week prior. Pork shipments were listed at 34.5k MT for the week, bringing the yearly total to 323.7k MT. That remains 10% ahead of last year’s pace.
USDA’s PM National Pork Carcass Cutout Value was $93.25 for Thursday, up by $1.29. USDA estimated FI hog slaughter at 1.892m head for the week through Thursday. That is 17k head behind last week’s pace and is down 39k head from the same week last year.
Apr 24 Hogs closed at $85.025, up $0.150,
May 24 Hogs closed at $91.600, down $0.250
Apr 24 Pork Cutout closed at $92.600, up $0.000,
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