Lean hog futures saw a stronger Friday session as contracts were up 87 cents to $1.05. October was $1 higher last week. Preliminary open interest rose 5,363 contracts, suggesting net new buying. USDA’s national base hog report from Friday PM showed negotiated prices at $101.25, down $3.18 from the day prior. The CME Lean Hog Index was up a nickel on September 3 at $105.97.
Export Sales Data showed pork bookings backing off to 23,711 MT in the week of 8/28, back down from the last week. Mexico was the top buyer of US pork in that week at 10,100 MT, with Japan buying 2,300 MT. Shipments were back up from last week at 26,570 MT. Much of that was headed to Mexico, at 12,900 MT, with 3,700 MT on his way to Japan.
