After the limit gain in April contracts on Wednesday, lean hogs closed within 40 cents of UNCH. Pork cutout futures were 42 to 47 cents higher at the close, but OI remains low. The CME Lean Hog Index was another $0.96 cents higher on Feb 23 to $79.12. USDA’s National Average Base Hog price was $2.24 higher in the afternoon at $77.94. USDA’s National Pork Carcass Cutout Value was $2.99 higher in the PM report to $95.13 cwt. All of the primals save ribs were higher, led a $4.83 bump to hams. USDA’s weekly Export Sales report showed 25,607 MT of pork booked on the week ending 2/18. That was down 23% wk/wk as China was notably absent during the Lunar New Year holiday. The weekly data release showed accumulated pork exports are at 261,512 MT, which trails LY’s record pace by 13%. USDA’s estimate for the week’s FI hog slaughter through Thursday is 1.983 million head. That is down 3k yr/yr.
| Apr 21 Hogs closed at $89.750, up $0.325, |
| May 21 Hogs closed at $91.150, down $0.400 |
| Jun 21 Hogs closed at $95.750, down $0.150 |
| Apr 21 Pork Cutout closed at $95.100, up $0.425, |
--- provided by Brugler Marketing & Management
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