Lean Hogs

Lean hog futures ended Thursday with most contracts lower, although nearby April was 27.5 cents higher. The CME Lean Hog Index on March 6 was up 14 cents from the previous day to $67.66. The USDA pork carcass cutout value was $1.72 lower at $72.99 in the Thursday afternoon report. The belly led the way down by $5.88, with the ham primal $2.09 lower. The national base hog weighted average price was 37 cents lower at $62.41. The USDA estimated week to date FI hog slaughter at 1,818,000 head through Thursday. That is down 16,000 head from the previous week but 50,000 head more than the same time last year. Pork export sales during the week ending 3/1 were tallied at 19,859 MT. During January, pork export shipments totaled 486.448 million pounds, according to census data converted by the USDA. That was down 5.4% from December, but 6.2% larger than last January. First quarter pork production was revised down 80 million pounds in the WASDE report to 6.59 billion pounds.

Apr 18 Hogs closed at $68.075, up $0.275,

May 18 Hogs closed at $72.350, down $0.250

Jun 18 Hogs closed at $78.250, down $0.350

Market Commentary provided by:

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