Lean hog futures were mixed at the Friday close, with contracts anywhere from 20 cents higher to 7 cents lower, as July, up 90 cents, was an exception. The USDA National Base Hog price reported at $86.04 on Friday afternoon, down $1.17 from the previous day. The CME Lean Hog Index was back down 17 cents at $90.55 on June 19. Typical seasonal strength has been muted or just downright missing this spring.
All pork export bookings totaled 21,448 MT during the week ending on June 13, a 5-week low. Actual shipments were tallied at 28,969 MT, the second slowest this MY.
USDA’s Pork Cutout Value was back higher in the Friday PM print, up $1.18 to $99.03. The rib and belly were the only primals reported lower. The loin (+$5.06) and butt (+$6.69) were the leaders to the upside, with the ham and picnic following. USDA estimated last week’s FI hog slaughter through Saturday at 2.419 million head. That is up 39,000 head from a week ago and 50,856 head higher vs. the same week a year ago.
Jul 24 Hogs closed at $92.050, up $0.900,
Aug 24 Hogs closed at $89.325, up $0.200
Oct 24 Hogs closed at $76.325, down $0.075,
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