Lean hog futures ended the day with 5 to 52 cent gains after Thursday’s action. Feb traded from -65 to +98 cents on the day. 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 increased 22 cents on Thursday afternoon to $45.49. The 1/9 CME Lean Hog Index firmed up by another 63 cents to $66.46.
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 was $2.12 weaker on Thursday to $84.54. USDA reported the week’s FI hog slaughter at 1.809 million head for the week through Thursday. That compares to 1.925m head for the same week last year.
Feb 24 Hogs closed at $72.600, up $0.525,
Apr 24 Hogs closed at $79.050, up $0.100
Feb 24 Pork Cutout closed at $86.475, up $0.975,
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