Lean hogs ended the Thursday session with nearby contracts down 35 to 50 cents and others up 17 to 42 cents. The national average base hog price was reported at $73.99 on Thursday afternoon, down $1.92 from the previous day. The CME Lean Hog Index was reported at $84.45 on October 1, up 32 cents from the day prior.
Thursday morning’s Export Sales report showed 43,355 MT in pork bookings during the week of 9/26, an 18-week high. Mexico purchased over half of that at 24,000 MT, with China buying 7,900 MT. Export shipments were a 3-week low, at 25,887 MT. Of that total, 10,900 MT was headed to Mexico, with 3,800 MT headed to Japan, and 2,600 MT to China.
USDA’s FOB plant pork cutout value was reported at $94.80 per cwt in the Thursday PM release, up 22 cents from the day prior. The loin, butt, and belly were the primals reported lower. USDA estimated FI hog slaughter for Thursday at 481,000 head, with the weekly total at 1.938 million head. That is up 5,000 head from the previous week and 1,889 head above the same week last year.
Oct 24 Hogs closed at $84.175, down $0.500,
Dec 24 Hogs closed at $76.400, down $0.350
Feb 25 Hogs closed at $80.150, down $0.000,
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