Lean Hogs Market News and Commentary

Lean Hog futures were mixed yesterday, with nearby April up 65 cents. The CME Lean Hog Index was down 9 cents from the previous day @ $51.85 on March 5. The USDA pork carcass cutout value was up $1.19 on Thursday afternoon at an average weighted price of $64.25. The national base hog carcass value was down 8 cents in the Thursday PM report, with a weighted average of $44.80. Futures expect cash to rally, but the puzzle pieces haven’t settled into place yet. USDA estimated FI hog slaughter through Thursday at 1.895 million head. Pork export shipments in December totaled 526.062 million pounds. That was up 2.3% from last year and 2.5% larger than November. Exports to China were the largest for Dec since 2013 at 30.24 million pounds. US pork stocks in cold storage at the end of January were 562.71 million pounds, down 3.1% from the year prior.

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