Lean hog futures fell 77 cents to $1.50 per pound at midday, with the USDA reporting a national base hog price of $92.16, down 89 cents from the previous day. As of March 10, the CME Lean Hog Index rose 23 cents to $91.20.
In the week ending March 5, USDA’s Export Sales report indicated 23,723 metric tons of pork sold, marking the lowest sales this year. However, weekly shipments increased to 38,897 metric tons. January’s monthly export data revealed pork shipments of 590 million pounds, the highest for that month in five years.
USDA estimated Wednesday’s federally inspected hog slaughter at 496,000 head, contributing to a weekly total of 1.476 million head, which is 23,000 head above last week and 13,613 head up from the same week a year ago. The Thursday AM pork carcass cutout value increased by 24 cents to $98.65 per cwt, although prices for the butt and ham primals were lower.
