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On Thursday, lean hog futures gained between 35 cents and $1.35 across most contracts. The USDA reported a national base hog price averaging $107.29, a decrease of 47 cents from the previous day, while the CME Lean Hog Index fell by 6 cents to $105.93 as of September 9.
In export sales data for the week ending September 4, a total of 17,327 metric tons (MT) of pork were sold, marking a 7-week low. China was the largest buyer at 8,200 MT, followed by Mexico at 4,700 MT. Pork shipments totaled 23,358 MT, the lowest since mid-January.
The USDA’s afternoon pork cutout report showed a decline of $1.60 to $113.17 per cwt. Estimated hog slaughter on Thursday was 487,000 head, bringing the weekly total to 1.947 million head, which is 8,342 head more than the same week last year.
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