Nearby hog futures ended the day $0.37 to $0.52 higher after a back and forth session from -28c to +70c from the Feb contract. USDA’s National Average Base Hog price increased $1.53 to $54.63 for Thursday. The CME Lean Hog Index another 64 cents higher to $69.39 on 1/23.
The weekly Export Sales data had 24k MT of pork sales for the week that ended 1/18. That was down from 33.4k MT last week. Shipments were 28.4k MT for the week, down from 31k last week. The yearly export total reached 77.6k MT through the first 3 weeks, which is 0.2% ahead of last year’s pace.
End of December US pork stocks were 427.3 million lbs according to NASS’s Cold Storage report. That was 2.8% looser than November’s stocks, but was 6.4% tighter compared to last year. NASS counted pork belly stocks @ 56m lbs, compared to 47m in November and 63 million last year.
USDA’s National Pork Carcass Cutout Value was 5c stronger on Thursday afternoon to $88.91. USDA estimated FI hog slaughter at 1.935m head for the week through Thursday. That compares to 1.805m head last week and 1.963m head during the same week last year.
Feb 24 Hogs closed at $74.300, up $0.400,
Apr 24 Hogs closed at $82.550, up $0.525
Feb 24 Pork Cutout closed at $87.350, up $0.000,
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