Hogs Close with Marginally Mixed Action
Lean hog futures closed Thursday with contracts down 27 to a nickel higher. USDA’s national average base hog negotiated price was reported at $105.95 on Thursday afternoon, down $1.38 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 $1.42 at $114.50. The picnic was the only primal reported lower. Federally inspected hog slaughter for Thursday was estimated at 480,000 head, taking the weekly total to 1.920 million head. That is up 17,000 from last week and 34,524 head larger than the same week last year.
Jun 25 Hogs closed at $103.650, up $0.275,
Jul 25 Hogs closed at $108.900, up $0.050
Aug 25 Hogs closed at $110.175, down $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.