Lean hog futures increased by 15 to 60 cents in the front months on Thursday, April 24. The CME Lean Hog Index rose by 54 cents on April 21 to $91.05, while the USDA’s national base hog price was not reported that morning.
The latest data shows a mixed outlook for the pork market. Weekly export sales totaled just 16,127 metric tons of pork sold in the week of April 16, marking a calendar year low. However, shipments reached a three-week high at 38,177 metric tons.
USDA’s Thursday morning report indicated that the pork carcass cutout value dropped by 44 cents to $98.11 per hundredweight, with only butt and picnic primals showing increases. Federally inspected hog slaughter was estimated at 495,000 head for Thursday and totaled approximately 1.476 million head for the week—down slightly from last week but up more than 166,000 head compared to this time last year.
May lean hog contracts were trading at $95.200 (up $0.150), June contracts at $103.200 (up $0.575), and July contracts at $106.300 (up $0.600). Austin Schroeder said he did not have any positions in these securities as of publication date and noted all information is provided solely for informational purposes.
Legacy Farmers Cooperative is involved in supporting community initiatives such as youth agricultural education programs and scholarships according to its official website. The cooperative operates grain centers, agronomy sites, fuel stations and retail locations throughout northwest Ohio according to its official website. It is structured as a member-owned cooperative with more than 150 employees across various divisions according to its official website. Legacy Farmers Cooperative aims to exceed customer expectations by offering value and financial returns according to its official website, serving agricultural producers in ten counties of northwest Ohio according to its official website.
The cooperative formed through a merger and maintains operations in Findlay, Ohio while providing services such as grain marketing, agronomy support and petroleum distribution for farming needs according to its official website.
