Lean hog futures showed mixed results on Thursday, with most contracts down by 22 to 45 cents, except for June, which rose by 87 cents. The USDA reported a national average base hog negotiated price of $101.85, decreasing by $1.20. The CME Lean Hog Index increased by 41 cents, reaching $96.75 on June 3.
In the week ending May 29, Weekly Export Sales data indicated 36,373 metric tons of pork were sold, up 19.3% from the previous week. Notably, China purchased 12,700 metric tons, while Mexico accounted for 12,000 metric tons. However, export shipments totaled 24,077 metric tons, marking the lowest figure in 19 weeks, with Mexico being the top destination at 10,500 metric tons.
USDA’s FOB plant pork cutout value was reported at $108.12, an increase of $1.50. The estimated federally inspected hog slaughter on Thursday was 480,000 head, bringing the weekly total to 1.903 million head, down 4,000 head from the same week last year.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
