Lean hog futures closed the Friday session with front months down 7 cents to $1.60 and deferreds up 7 to 12 cents. December was up 40 cents last week but down $1.72 on the month. The national average base hog negotiated price was at $83.79 in the Friday afternoon report, down $3.67 from the day prior. The CME Lean Hog Index was reported at $85.51 on November 26, down another 39 cents from the previous day.
Pork export sales totaled 17,222 MT for 2024 in the week of 11/21, with 17,501 MT for 2025. Mexico was the largest buyer for the current year at 8,300 MT, with South Korea buying 9,800 MT for 2025. Shipments were tallied at 28,119 MT, a 7-week low. Mexico was the destination of 10,300, with 4,100 MT to Japan.
The sow herd in Chin was at 40.73 million head on October 31, which was down 3.2% from last year according to the country’s ministry of ag. Year to date hog slaughter was down 2.6% from the year prior at 264.21 million head through the end of October.
USDA’s FOB plant pork cutout value reported higher on Friday PM, up $1.37 at $90.31 per cwt. The loin and picnic were reported lower, with the rest of the primals up $2.41 to $7.10 led by the belly. USDA estimated Friday’s FI hog slaughter at 438,000 head, taking the WTD total to 2.293 million head including the Saturday total.
Dec 24 Hogs closed at $82.075, down $0.325,
Feb 25 Hogs closed at $86.325, down $1.600
Apr 25 Hogs closed at $90.750, down $0.875,
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