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Thursday, March 09, 2023 1:02:33 PM
Hogs Down At Midday
By: Barchart | March 9, 2023
Hog futures are trading with 20 cent losses to a $1.05 loss in the April contract. April had been the leader upwards so far through the week and is still 10 cents in the black for the week to date. USDA’s National Average Base Hog price was 22c lower to $78.27. The CME Lean Hog Index was $79.09, up by 18 cents for 3/6.
USDA’s weekly Export Sales report showed 22k MT of pork was sold for export during the week that ended 3/2. That was down 29% from last week and by 13% from the same week last year. Adding the week’s 30k MT shipment brought the full year total to 263,828 MT – a 0.4% lag from last year’s pace.
Nearby pork cutout futures are mixed so far across the front months with April and May in the black and June down by 60 cents. USDA’s National Pork Carcass Cutout value was 34 cents weaker to $87.32 in the AM report. USDA’s estimate for federally inspected hog slaughter was 1.427m head through Wednesday. That is 8,000 behind last week’s pace, but is 3k head more than the same week last year.
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By: Barchart | March 9, 2023
Hog futures are trading with 20 cent losses to a $1.05 loss in the April contract. April had been the leader upwards so far through the week and is still 10 cents in the black for the week to date. USDA’s National Average Base Hog price was 22c lower to $78.27. The CME Lean Hog Index was $79.09, up by 18 cents for 3/6.
USDA’s weekly Export Sales report showed 22k MT of pork was sold for export during the week that ended 3/2. That was down 29% from last week and by 13% from the same week last year. Adding the week’s 30k MT shipment brought the full year total to 263,828 MT – a 0.4% lag from last year’s pace.
Nearby pork cutout futures are mixed so far across the front months with April and May in the black and June down by 60 cents. USDA’s National Pork Carcass Cutout value was 34 cents weaker to $87.32 in the AM report. USDA’s estimate for federally inspected hog slaughter was 1.427m head through Wednesday. That is 8,000 behind last week’s pace, but is 3k head more than the same week last year.
Read Full Story »»»
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