Hogs Gaining Strength on Thursday
Lean hogs are trading with 12 cent to $1.05 gains on Thursday. The USDA National Base Hog price was reported at $82.34 in the Thursday morning report, a $3.44 drop from the morning prior. The CME Lean Hog Index was $93.08 on July 30, up another 49 cents from the previous day.
Pork export sales totaled 31,549 MT during the week that ended on 7/25, a 4-week high. Shipments totaled 30,141 MT in that week, a 4-week low.
USDA’s FOB plant pork cutout value was back up $2.16 in the Thursday AM average carcass quote, at $107.04 per cwt. All primals were reported higher, with rib leading the way, up $6.08, and the loin $4.77 higher. USDA estimated the Wednesday FI hog slaughter at 481,000 head, taking the WTD total to 1.435 head. That is up 22,000 head from last week and 4,882 head above the same week a year ago.
Aug 24 Hogs are at $92.900, up $0.625,
Oct 24 Hogs are at $76.925, up $1.000
Dec 24 Hogs is at $69.175, up $0.450,
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.