Hogs Mixed at Midday
Related Stocks
 HEJ24 - Lean Hogs
SymLastChgPct
HEJ2486.100s+0.525+0.61%
HEM24101.600s+0.250+0.25%
KMJ2495.500s+1.550+1.65%

Front month lean hog futures are mostly lower during mixed trading through Thursday’s midday, Futures are 2 to 95 cents in the red, to 22 to 45 cents in the black. USDA’s National Average Base Hog price for Thursday morning was $105.72 after a 75 cent bump. The CME Lean Hog Index was up 70 cents to $105.12 on 4/20.

USDA’s weekly Export Sales report showed a net reduction of 22,129 MT for pork sales during the week ending 4/15. This wasn’t as bad as it looks. The net reduction stemmed from a 54,476 MT reporting error for Mexico. Mexico on net had reduced bookings of 45,100, implying new sales of 9k MT. USDA noted the cancelation was a reflection of a data entry error; reflecting sales from 2020 that were improperly rolled into 21 commitments though the sales were actually shipped during 2020. Weekly export shipments were the largest of 2021.

Pork cutout futures are mostly higher at midday, gaining as much as 65 cents. May cutout futures are a nickel in the red. USDA’s National Pork Carcass Cutout Value was $0.56 stronger this morning on mostly offsetting moves for the primal cuts, to $114.20 cwt. USDA estimates federally inspected hog slaughter for the week through Wednesday at 1.455m head. That is up 3,000 head wk/wk, but not comparable to last year.  

May 21 Hogs  are at $106.650, down $0.950,

Jul 21 Hogs  are at $102.800, down $0.200

May 21 Pork Cutout  is at $113.400, down $0.050,




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