Front month lean hog futures are trading 30 to 72 cents lower so far into the first trade day of the new week. USDA’s National Average Base Hog price increased by 27c on Monday morning to $46.23. The CME Lean Hog Index was 53 cents stronger on 1/17 to $67.87.
Export Sales of pork in the week that ended on January 11 totaled 33,400 MT. Shipments tallied 31,400 MT in that week.
Pork cutout futures closed down by 27 cents in the Feb contract, for a net 45 cent loss for the week. USDA’s National Pork Carcass Cutout Value for Monday morning was quoted at $90.83, up by $2.27. USDA’s FI hog slaughter for the week was 2.652m head, a 4.4% lead vs the same week last year. Pork production was listed at 575.8m lbs, a 4.2% lead vs the same week last year.
Feb 24 Hogs are at $70.500, down $0.250,
April 24 Hogs are at $77.550, down $0.600
Feb 24 Pork Cutout is at $85.600, up $0.200,
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