On Thursday, lean hog futures dropped by 25 cents to $1.65, with the USDA’s national base hog price reported at $92.64, down 61 cents from the previous day. The CME Lean Hog Index saw a slight increase of 12 cents to $91.31 as of April 28.
USDA’s Export Sales data revealed pork sales reached 46,288 MT for the week ending April 23, marking a four-week high, driven primarily by sales to Mexico (26,100 MT) and China (8,800 MT). However, shipments hit a calendar year low of 35,029 MT, with Mexico being the top destination at 16,300 MT.
The USDA’s Thursday PM pork carcass cutout value decreased by 43 cents to $96.76 per cwt, with the picnic, ham, and belly cuts noted as higher. Federally inspected slaughter for Wednesday was estimated at 479,000 head, totaling 1.94 million head for the week, which is down 13,000 from the previous week but 5,089 higher than the same week last year.
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