Lean hogs saw mixed trade on Thursday, with most heading 12 cents to $1.02 higher. There ere a couple exceptions, with April and August contracts down 17 to 30 cents. USDA’s National Average Base Hog price was down $3.58 in the Thursday afternoon report at $87.05. The CME Lean Hog Index was another 90 cents higher at $88.78 on April 9.
Export Sales data indicated 47,410 MT of pork sales in the week of April 4, an increase from the week prior. Shipments were a 7-week high at 35,456 MT. This morning’s USDA report showed overall 2024 production expected 180 million lbs higher in 2024, with all but the first quarter revised higher.
USDA’s National Pork Carcass Cutout Value was back up $1.04 in the Thursday PM report, at $101.29. The belly led the charge higher, up $7.75. USDA estimated Thursday’s federally inspected hog slaughter at 491,000 head, bringing the weekly total to 1.919 million head. That is 90,000 head above last week and a 138,942 head increase from the same week last year.
Apr 24 Hogs closed at $91.450, down $0.300,
May 24 Hogs closed at $97.300, up $0.750
Apr 24 Pork Cutout closed at $100.275, down $0.000,
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