Following 7 consecutive gains, lean hog futures pulled back to start the new month. April hog futures had seen a $14.22 range during January, ending a net $9.97 stronger. They gave back more than a dollar of that on Thursday. USDA’s National Average Base Hog price was another 79c higher on Thursday to $63.35. The 1/30 CME Lean Hog Index was another 90 cents higher at $72.38.
Weekly FAS data showed a hefty 42.9k MT of pork was sold for export during the week that ended 1/25. Exports were marked at 30.1k MT for the week.
USDA’s National Pork Carcass Cutout Value was $1.03 higher on Thursday afternoon, though bellies were quoted $5.85 weaker. The federally inspected hog slaughter for the week was marked at 1.955m head through Thursday. That is 20k head more than last week and is up 18k head from the same week last year.
Feb 24 Hogs closed at $75.800, down $0.550,
Apr 24 Hogs closed at $83.750, down $1.075
Feb 24 Pork Cutout closed at $88.000, down $0.050,
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