Lean hogs posted 50 to 75 cent losses in most contracts on Friday, with July up 12 cents. The USDA National Base Hog price was reported at $89.45 on Friday afternoon, down $1.52 from the previous day. Futures are now below the cash, but not the CME Lean Hog Index at $89.45, back up 14 cents on July 2.
Pork export sales in the week ending on June 27 totaled 59,083 MT, the largest weekly sale since March 2021. Export shipments were 30,015 MT, a 3-week high.
USDA reported the Friday PM Pork Cutout Value back up a $1.28 at $94.91. The rib was the only primal reported lower, dragging on things with a $6.16 loss. The butt primal was up $7.79 with all other in a range of $1.03 to $ 1.82 higher. USDA estimated the weekly FI hog slaughter at 2.045 million head including Saturday. That is up 91,281 head above the same week last year.
Jul 24 Hogs closed at $89.875, up $0.125,
Aug 24 Hogs closed at $89.175, down $0.650
Oct 24 Hogs closed at $73.475, down $0.700,
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