Hogs Showing Positive Trade on Friday
Lean hog futures are trading with contracts up 15 to 90 cents. The national average base hog negotiated price was reported at $77.98 on Friday morning, down $1.37 from the day prior. The CME Lean Hog Index was reported at $80.59 on January 8, down 46 cents from the previous day.
Pork export sales totaled 31,038 MT in the week of January 2. Shipments totaled 25,474 MT in that week. The largest destination was Mexico with 8,300 MT, with 3,000 MT to Japan.
USDA’s FOB plant pork cutout value was up $1.54 in the Friday AM report at $92.02 per cwt. The loin and rib primas were reported lower, with the rest showing gains. Federally inspected hog slaughter on Thursday was estimated at 488,000 head, with the weekly total at 1.906 million head. That is 106,656 head above the same week last year.
Feb 25 Hogs are at $81.925, up $0.150,
Apr 25 Hogs are at $88.250, up $0.900
May 25 Hogs is at $92.825, up $0.800,
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.