Lean hog futures are trading with midday moves of 15 cents lower to slightly higher on Thursday. The CME Lean Hog Index was up another 89 cents on February 11 at $87.08. The national average base hog negotiated price on Thursday morning was reported at $90.42, up $1.85 from the previous day.
Pork export sales totaled 24,947 MT in the week of 2/6, back down by nearly half from last week. Sales to Japan were 6,200 MT, with 5,000 MT sold to Mexico and 3,600 MT o South Korea. Export shipments totaled 31,045 MT. Mexico was destinated for 12,000 MT, with 4,000 MT to South Korea.
The daily FOB plant pork cutout value from the USDA was back up $2.04 in the Thursday AM report at $100.67 per cwt. The picnic primal was the only reported lower, with the ham leading the way, up $4.42. USDA’s Federally inspected hog slaughter for Wednesday was estimated at 490,000 head, taking the weekly total to 1.472 million head. That was 8,000 head larger than last week and 15,273 head above the same week last year.
Feb 25 Hogs are at $89.400, down $0.050,
Apr 25 Hogs are at $94.175, down $0.150
May 25 Hogs is at $98.075, up $0.025,
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.More news from Barchart
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