Lean hogs are showing losses of 12 to 67 cents in the front months on Thursday, with gains in the deferreds. USDA’s National Average Base Hog negotiated price was down $1.63 from the day prior in the Thursday morning report at $89.43. The CME Lean Hog Index was back up 34 cents on April 30 at $90.60.
Pork export sales totaled 33,583 MT during the week that ended on 4/25, a 3-week high. Mexico purchased a majority of the total at 21,600 MT. Export shipments dropped to a 3-week low at 36,213 MT. Of that total, 14,200 MT was headed to Mexico, with 5,300 MT to South Korea.
The monthly export update from Census showed converted carcass weight exports of 621.1 million lbs of pork shipped in March. That was a 3-year high and the third largest March all time.
USDA’s National Pork Carcass Cutout Value was higher in the Thursday AM report, up $1.66 cents to $99.65. The belly was back up $19.71 to lead the way, with picnic primal the only other reported higher. USDA estimated federally inspected hog slaughter at 480,000 head on Wednesday, with the weekly total at 1.438 head. That is 13,000 head below last week and up 47,341 head from the same week last year.
May 24 Hogs are at $92.900, down $0.125,
Jun 24 Hogs are at $99.750, down $0.675
Jul 24 Hogs is at $103.375, down $0.250,
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