On Thursday, May 12, lean hog futures experienced losses, with prices dropping between 45 cents and $1.35 for front-month contracts. The USDA’s national base hog price fell to $93.32, down $2.19 from the previous day, while the CME Lean Hog Index increased by 26 cents to $90.74.
The USDA reported pork export sales for the week ending May 7 at 20,960 metric tons (MT), a three-week low. Major buyers included Japan, which purchased 7,100 MT, and Mexico with 6,100 MT. Total shipments reached 35,175 MT, with South Korea being the largest destination at 4,300 MT.
The USDA’s pork carcass cutout value climbed 52 cents to $96.55 per cwt. An estimated 464,000 hogs were federally inspected on Thursday, bringing the weekly total to 1.891 million, which is 37,000 fewer than last week and 17,469 below the same week last year.
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