Lean hogs continue the mixed trade this week, as Thursday closed with contracts down 10 to 50 cents in the front months and later months up 5 to 77 cents. USDA’s National Average Base Hog negotiated price was down $0.24 from the day prior in the Thursday afternoon report at $91.78. The CME Lean Hog Index was back up 34 cents on April 30 at $90.60.
Pork export sales totaled 33,583 MT during the week that ended on 4/25, a 3-week high. Mexico purchased a majority of the total at 21,600 MT. Export shipments dropped to a 3-week low at 36,213 MT. Of that total, 14,200 MT was headed to Mexico, with 5,300 MT to South Korea. The monthly export update from Census showed converted carcass weight exports of 621.1 million lbs of pork shipped in March. That was a 3-year high and the third largest March all time!
USDA’s National Pork Carcass Cutout Value was down 11 cents in the Thursday PM report to $97.88. The belly was back up $13.03 to lead the way, with picnic primal the only other reported higher. USDA estimated federally inspected hog slaughter at 481,000 head on Thursday, with the weekly total at 1.919 head. That is 17,000 head below last week and up 56,821 head from the same week last year.
May 24 Hogs closed at $93.075, up $0.050,
Jun 24 Hogs closed at $99.925, down $0.500
Jul 24 Hogs closed at $103.525, down $0.100,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
