Lean hog futures increased by 20 to 75 cents on Friday, with April contracts rallying $2.40 over the week. The USDA reported the national base hog price at $88.96 on Friday, a decrease of $2.08 from the previous day. The CME Lean Hog Index rose 40 cents to $87.59 as of February 18.
In the week ending February 12, USDA reported 27,255 MT of pork sold, the lowest in five weeks. Mexico was the leading buyer at 9,200 MT, followed by Japan with 5,600 MT. Export shipments totaled 35,653 MT, marking the lowest volume for this calendar year, with Mexico receiving 17,200 MT and Japan 4,200 MT.
The estimated federally inspected hog slaughter for the week was 2.516 million head, down 19,000 from the previous week and 14,671 lower than the same week last year. The USDA’s pork carcass cutout value declined by 67 cents to $95.61 per cwt.
