Lean hogs saw a positive bounce on Thursday, as contracts saw gains anywhere from just a tick to $2. The USDA National Base Hog price was reported at $86.77 on Thursday afternoon, down $0.54 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. However, export shipments were a 4-week high at 32,409 MT.
USDA reported the Thursday PM Pork Cutout Value $1.81 higher at $96.23. The loin primal was the only reported lower, with rib leading the way higher, up $12.56. USDA estimated the Thursday FI hog slaughter at 475,000 head, with the weekly total at 1.890 head. That was well above last week and 44,920 larger than the same week last year.
Jul 24 Hogs closed at $88.550, up $0.100,
Aug 24 Hogs closed at $86.675, up $2.000
Oct 24 Hogs closed at $69.400, up $1.075,
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