Lean Hogs Market Awaits China News As Mnuchin Meets

Lean Hog futures were anywhere from 47.5 cents lower to 55 cents higher on Thursday. The CME Lean Hog Index was down 23 cents from the previous day @ $80.67 on June 4. The USDA pork carcass cutout value was up 18 cents at $83.25 on Thursday afternoon. The national average base hog was down 73 cents on Thursday, with a weighted average price of $75.63. Estimated FI hog slaughter WTD is 1.893 million head, 107,000 head above the same week last year. Export sales of pork in the week that ended on May 30 were tallied at 33,776 MT for 2018, with China buying 17,394 MT. There was also 10,765 MT in forward sales for 2020, all for China. Actual shipments were reported at 22,192 MT, but only 3,300 MT were headed to China.

--provided by Brugler Marketing & Management




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