Lean hog futures declined by 90 cents to $1.80 on Thursday, with July prices falling $5.27 this week. The USDA reported a national base hog price of $110.21, down $1.85, and the CME Lean Hog Index decreased by 77 cents to $110.22 as of July 1. Markets will be closed on Friday, resuming normal trading on Monday morning.
In the week ending June 26, USDA’s Export Sales report indicated a total of 27,130 metric tons of pork sold, the lowest in three weeks. Mexico was the largest buyer, purchasing 15,200 MT, while Japan received 4,300 MT. Pork shipments were also low, totaling 30,068 MT, with Mexico again as the leading destination at 12,000 MT.
Federally inspected hog slaughter on Thursday was estimated at 407,000 head, totaling 1.821 million for the week, down 66,000 from the previous week and up 393,922 from last year. As for prices, July hogs closed at $107.975, August at $106.100, and October at $92.100.
