Hogs Retreat Lower on Thursday
Lean hogs are down anywhere from 42 cents in the back months to $2.47 in the nearbys on Thursday. USDA’s National Average Base Hog negotiated price was down $2.45 on Thursday morning, at $88.58. The CME Lean Hog Index was up 19 cents on April 23 at $91.64.
USDA reported 464.205 million lbs of pork in cold storage at the end of March, a 13.05% decline from a year ago but up 1.43% from last month.
Pork export bookings were tallied at 28,790 MT during the week of April 18, an increase from last week. Shipments were down slightly at 40,014 MT.
USDA’s National Pork Carcass Cutout Value was higher in the Thursday morning report, up $0.25 at $97.62. The loin and butt primals were both reported lower, with the picnic and rib leading the charge to the upside. USDA estimated Wednesday’s federally inspected hog slaughter at 483,000 head, with the week to date total at 1.451 million head. That is down 3,000 head from last week and a 43,934 head increase from the same week last year.
May 24 Hogs are at $95.300, down $2.050,
Jun 24 Hogs are at $104.975, down $2.475
Jul 24 Hogs is at $107.775, down $2.075,
On the date of publication, Alan Brugler 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.