Lean hog futures ended mostly lower on Thursday, April 18, with contracts falling between a fraction and 67 cents. The market saw open interest decrease by 1,538 contracts for the day. According to the United States Department of Agriculture (USDA), the national base hog price was $90.16 on Thursday afternoon, which is down $1.742 from the previous day. The CME Lean Hog Index rose by 27 cents on April 14 to reach $90.60.
The pork export business recorded sales of 37,285 metric tons for the week ending April 9, an increase from the prior week. Mexico led buyers with purchases totaling 11,300 metric tons and Japan followed with orders of 8,200 metric tons. Shipments were slightly higher at 35,336 metric tons; Mexico again was the top destination with shipments totaling 15,600 metric tons.
USDA’s Thursday afternoon report showed that pork carcass cutout value increased by $1.54 to reach $96.68 per hundredweight (cwt). Among primal cuts reported, only loin, butt and picnic primals declined in value while belly prices rose by $7.66.
Thursday’s federally inspected hog slaughter was estimated at 491,000 head by USDA officials; this brought the week-to-date total to approximately 1.968 million head—128,000 more than last week and up nearly thirty thousand compared to this time last year.
In terms of contract settlements: May lean hogs closed at $94.050 (down two-and-a-half cents), June closed at $101.675 (down twenty-seven-and-a-half cents), and July finished at $104.350 (down sixty-two-and-a-half cents).
Legacy Farmers Cooperative serves agricultural producers in ten counties across northwest Ohio according to its official website. The cooperative supports community initiatives such as youth agricultural education programs including local chapters of FFA and scholarships for students according to its official website. Legacy Farmers Cooperative maintains grain centers, agronomy sites and fuel stations throughout northwest Ohio according to its official website.
The cooperative is structured as a member-owned organization employing over one hundred fifty people across several divisions according to its official website. It focuses on exceeding customer expectations while delivering financial returns for members according to its official website.
