Hogs Pressured Lower on Thursday
Lean hogs fell 55 cents to $1.40 across the board on Thursday. USDA’s National Average Base Hog negotiated price was down $2.44 in the Thursday afternoon report at $89.35. The CME Lean Hog Index was up 25 cents on May 7 at $91.28.
Pork export sales were tallied at 24,410 MT in the week that ended on 5/2, a 3-week low. Export shipments totaled 35,012 MT during that same week, a 5-week low.
USDA’s National Pork Carcass Cutout Value was down 86 cents in the Thursday PM print at $98.43. Just the rib was reported higher, with the other 5 primals ticking lower. USDA estimated Thursday’s federally inspected hog slaughter at 472,000 head, with the WTD total at 1.908 million head. That is 9,000 head below last week but up 49,352 head from the same week last year.
May 24 Hogs closed at $91.975, down $0.550,
Jun 24 Hogs closed at $97.725, down $1.000
Jul 24 Hogs closed at $101.050, down $1.400,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.