Lean Hog Futures Recover another Triple Digits
Alan Brugler, Barchart
May 5, 2022
Extending the recovery from Wednesday, front month lean hog futures were $1.37 to $2.37 stronger on Thursday. The National Average Base Hog price for Thursday afternoon was $103.57, down by $4.90. CME’s Lean Hog Index for 5/3 was $101.04, down by 11 cents.
USDA reported weekly pork export sales of 23,788 MT for the week that ended 4/28. That was down from 31.5k MT last week and from 48.2k MT during the same week last year. Pork export shipments were shown as 32,194 MT. That was up 7% on the week, but down 13% from the same week last year. Accumulated shipments were shown as 501,661 MT through 4/28.
Pork cutout futures followed the hogs higher with gains of 75 cents to $1.50. USDA’s National Pork Carcass Cutout Value for Thursday morning was up by another $2.44 to $106.27. USDA estimated the week’s FI hog slaughter at 1.922m head for the week through Thursday. That compares to 1.903m head last week and 1.924m head from the same week last year.
more, including links