Lean hogs are trading mixed within 50 cents of UNCH so far for Thursday. April hogs were up to their Bollinger midline on the weekly chart, a moving average resistance since September. USDA’s National Average Base Hog price for Wednesday was 4 cents stronger to $45.27. The CME Lean Hog Index firmed up by 9 cents to $65.83 for 1/8.
The week’s pork export booking was reported at 23.3k MT starting the 2024 year. That was a 2-wk high led by sales to Mexico, Japan, and South Korea.
USDA’s National Pork Carcass Cutout Value strengthened by $2.14 to $86.67 for Wednesday. USDA reported the week’s FI hog slaughter at 470k head through Wednesday. That compares to 485k head during the same week last year.
Feb 24 Hogs are at $72.200, up $0.125,
April 24 Hogs are at $78.575, down $0.375
Feb 24 Pork Cutout is at $85.975, up $0.475,
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