Lean hog futures closed the Thursday session with contracts 57 cents to $1.05 higher. Open interest suggested short covering, down 1,592 contracts. USDA’s national base hog price was reported at $72.65 on Thursday afternoon, up $0.56 from the day prior. The CME Lean Hog Index was back up 6 cents on December 2 at $81.67.
USDA’s Export Sales report showed 28,526 MT of pork bookings in the week of October 31, down 26.5% from the week prior. Export shipments were 31,203 MT, slightly below the week prior.
USDA’s pork carcass cutout value from the Thursday PM report was down 69 cents to $93.33 per cwt. The picnic and ham were the only primals reported higher. USDA estimated federally inspected hog slaughter for Wednesday was 490,000 head, with the week to date total at 1.943 million head. That was 10,127 head above the week last year.
Dec 25 Hogs closed at $81.125, up $0.575,
Feb 26 Hogs closed at $81.850, up $0.850
Apr 26 Hogs closed at $85.775, up $1.050,
