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Hogs Pull Back on Thursday with Negotiated Weakness
Lean hogs fell $1.17 to $2.45 in the front months on Thursday, with the other contracts down 80 to 97 cents. USDA’s National Average Base Hog negotiated price was down $2.78 on Thursday afternoon, at $88.71. The CME Lean Hog Index was up 19 cents on April 23 at $91.64.
Pork export bookings were tallied at 28,790 MT during the week of April 18, an increase from last week. Shipments were down slightly at 40,014 MT.
USDA’s National Pork Carcass Cutout Value was higher in the Thursday PM report, up $0.22 at $97.60. The loin and butt primals were both reported lower, with the rib leading the charge to the upside. USDA estimated Thursday’s federally inspected hog slaughter at 485,000 head, with the week to date total at 1.936 million head. That is down 4,000 head from last week but a 53,270 head increase from the same week last year.
May 24 Hogs closed at $95.275, down $2.075,
Jun 24 Hogs closed at $105.000, down $2.450
Jul 24 Hogs closed at $107.800, down $2.050,
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.