Lean hog futures experienced losses ranging from $1 to $1.50 on Thursday. The USDA reported the national base hog price at $112.43, an increase of 53 cents from the previous day. Additionally, the CME Lean Hog Index decreased by 29 cents to $107.04 as of July 8.
In export sales data for the week ending July 3, a total of 24,263 metric tons (MT) of pork were sold, with China being the leading purchaser at 8,800 MT, followed by South Korea with 7,300 MT. Total shipments reached 30,093 MT, with 12,700 MT sent to Mexico. The USDA reported Thursday’s estimated hog slaughter at 473,000 head, bringing the total for the week to date to 1.891 million, which is 70,000 head higher than the previous week but 736 head lower than last year.
Key futures for hogs: Jul 25 at $107.250 (up $0.150), Aug 25 at $106.225 (down $1.000), and Oct 25 at $92.275 (down $1.500).
