Lean hogs are down another 30 to 75 cents so far on Thursday. USDA’s National Average Base Hog negotiated price was not reported on Thursday morning, with the Wednesday afternoon price reported at $87.83. The CME Lean Hog Index was down 19 cents on May 21 at $91.82.
USDA data from this morning showed 26,255 MT of pork sold for export in the week of 5/16, a 24.4% increase on the week. Shipments were at 34,282 MT, up 3.4% from last week.
USDA’s National Pork Carcass Cutout Value was down another 62 cents in the Thursday AM print at $99.56. The picnic ($1.70), ham ($1.59) and belly (-$5.67) were all reported lower. USDA estimated Wednesday’s federally inspected hog slaughter at 484,000 head, with the WTD total at 1.432 million head. That is up 11,000 head from the week prior and 14,068 head above the same week last year.
Jun 24 Hogs are at $94.675, down $0.725,
Jul 24 Hogs are at $97.625, down $0.500
Aug 24 Hogs is at $97.050, down $0.500,
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