Hogs Still Climbing on Thursday
Lean hog futures are trading with 17 to 30 cent gains on Thursday. USDA’s national average base hog negotiated price was reported at $105.19 on Thursday morning, down $1.96 from the day prior. The CME Lean Hog Index was up 94 cents on June 10, at $100.91.
Pork export sales totaled just 9,739 MT in the week ending on June 5. That was the second lowest for the marketing year. The largest buyer was Japan at 3,600 MT, with Canada in for 1,900 MT, and Mexico showing net reductions of 1,200 MT. Export shipments were a 15-week high at 33,761 MT. Of that total, 12,800 MT was headed to Mexico, with 5,100 MT to Japan.
USDA’s FOB plant pork cutout value from Thursday morning was up $2.01 at $115.09. The picnic was the only primal reported lower. Federally inspected hog slaughter for Wednesday was estimated at 480,000 head, taking the weekly total to 1.440 million head. That is up 17,000 from last week and 25,960 head larger than the same week last year.
Jun 25 Hogs are at $103.675, up $0.300,
Jul 25 Hogs are at $109.100, up $0.250
Aug 25 Hogs is at $110.375, up $0.175,
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.