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Thursday, March 23, 2023 12:52:32 PM
Hog Weakness Persisting Through Thursday’s Midday
By: Barchart | March 23, 2023
The hog market has a 7 cent midday gain for the April contract, as the other front months remain another 7 to 45 cents in the red so far. USDA’s National Average Base Hog price was another 79 cents weaker on Thursday morning to $76.50. The CME Lean Hog Index was $78.67 on 3/20, down by 88 cents.
Weekly Export Sales data showed 37,957 MT of pork was sold during the week that ended 3/16. That was up 6% for the week and was 63% above the same week last year led by sales to Mexico. The week’s export total was 30,493 MT for a season’s total of 324,077 MT. That is 1.3% ahead of last year’s pace.
Pork cutout futures are trading 12 cents to $1.52 lower at midday. USDA’s National Pork Carcass Cutout value was 83 cents higher Thursday morning to $80.69. USDA estimates the week’s FI hog slaughter through Wednesday at 1.422 million head. That trails last week by 26k and last year by 2k head.
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By: Barchart | March 23, 2023
The hog market has a 7 cent midday gain for the April contract, as the other front months remain another 7 to 45 cents in the red so far. USDA’s National Average Base Hog price was another 79 cents weaker on Thursday morning to $76.50. The CME Lean Hog Index was $78.67 on 3/20, down by 88 cents.
Weekly Export Sales data showed 37,957 MT of pork was sold during the week that ended 3/16. That was up 6% for the week and was 63% above the same week last year led by sales to Mexico. The week’s export total was 30,493 MT for a season’s total of 324,077 MT. That is 1.3% ahead of last year’s pace.
Pork cutout futures are trading 12 cents to $1.52 lower at midday. USDA’s National Pork Carcass Cutout value was 83 cents higher Thursday morning to $80.69. USDA estimates the week’s FI hog slaughter through Wednesday at 1.422 million head. That trails last week by 26k and last year by 2k head.
Read Full Story »»»
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