Hogs Weaker on Thursday

 

Alan Brugler, Barchart

Jul 28, 2022

 

Lean hogs were lower across most contracts on Thursday, with losses of 12 to 60 cents. Nearby August was up 52 cents. USDA’s National Average Base Hog fell back by $10.86 after jumping $13.01 higher yesterday. The PM report had a $119.59 quote. The 7/26 CME Lean Hog Index was $119.73 up by 25 cents. 

 

USDA’s weekly Export Sales report had 21.6k MT of pork sold during the week that ended 7/21. That was a 16% drop from the running 4-week average. Mexico was the top buyer. Pork exports were shown as 27k MT for the week. 

 

Pork cutout futures were also weaker on Thursday with August down 20 cents. USDA’s National Pork Carcass Cutout Value for Thursday afternoon was $2 stronger to $128.79. FI hog slaughter was estimated at 1.845m head for the week through Thursday. That is up from 1.809m head last week but under the 1.876m head during the same week last year. 

 

more, including links

https://www.barchart.com/story/news/9384496/hogs-weaker-on-thursday