Lean hog futures are mixed at midday, with contracts down 15 to 35 cents lower, with July up 50 cents. USDA’s national average base hog negotiated price was reported at $94.654 on Thursday morning, up $2.23. The CME Lean Hog Index was another 3 cents higher on May 6, at $90.16.
USDA reported a total of 24,228 MT of pork sold for export in the week ending on May 1, back down from the previous week. Mexico was the buyer of 9,900 MT, with Japan buying 3,500 MT. Shipments were the second lowest in the calendar year at 25,573 MT. A total of 11,000 MT was destined for 11,000 MT, with 4,400 MT to Japan.
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The Thursday morning FOB plant pork cutout value was down 82 cents/cwt on a carcass basis, at $94.72. The picnic and ham primals were reported higher. Federally inspected hog slaughter from USDA was estimated 471,000 head for Wednesday, with a weekly total at 1.438 million head. That was down 17,000 head from the previous week and 5,194 head above the same week last year.
May 25 Hogs are at $90.800, down $0.350,
Jun 25 Hogs are at $97.175, down $0.150
Jul 25 Hogs is at $99.975, up $0.500,
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