Hogs Sneaking Out Gains on Thursday
Lean hog futures are trading with contracts up 10 to 35 cents so far on Thursday. USDA’s national average base hog negotiated price was not reported on Thursday morning with the 5-day rolling average at $85.03. The CME Lean Hog Index was down another 28 cents from the previous day at $85.09 on April 15. The markets will be closed for Good Friday, with Thursday trade rounding out the week.
This morning’s Export Sales report showed a total of just 20,548 MT sold in the week ending on April 10, a 4-week low. Japan was the top buyer of 7,100 MT, with 3,200 MT sold to Mexico. Shipments came in a 30,934 MT, which was back up from the week prior. Of that total, 11,100 MT was headed to Mexico, with 5,300 MT to South Korea.
The Thursday morning pork cutout value was up $2.15 via the USDA report, at $94.19. All primals were reported higher. USDA’s federally inspected hog slaughter was estimated at 487,000 head for Wednesday, with the week to date total at 1.462 million head. That is down 1,000 head from last week but 10,275 head above the same week last year.
May 25 Hogs are at $90.500, up $0.350,
Jun 25 Hogs are at $98.050, up $0.100
Jul 25 Hogs is at $98.175, up $0.275,
On the date of publication, Austin Schroeder 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.