Lean hogs are rebounding from Wednesday’s weakness, as contracts are up 5 cents in July to as much as $2.42 in August. The USDA National Base Hog price was reported at $87.45 on Thursday morning, down $1.31 from the day prior. The CME Lean Hog Index was reported at $88.67 on July 9, back up 24 cents from the previous day.
Pork export sales totaled 26,543 MT during the week that ended on July 4, a 3-week low. Export shipments were a 4-week high at 32,409 MT.
USDA reported the Thursday AM Pork Cutout Value $1.25 higher at $95.67. The ham primal was the only primal reported lower, with rib leading the way higher, up $15.48. USDA estimated the Wednesday FI hog slaughter at 477,000 head, with the weekly total at 1.415 head. That was down 4,000 head from the previous week but was 28,730 above the same week last year.
Jul 24 Hogs are at $88.500, up $0.050,
Aug 24 Hogs are at $87.100, up $2.425
Oct 24 Hogs is at $69.775, up $1.450,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
