Lean hog futures closed the Thursday session with contracts down 87 cents to $2.50. The Thursday afternoon national average base hog negotiated price from the USDA was reported at $89.15, down $2.49 from the day prior. The CME Lean Hog Index was back up 7 cents from the previous day at $89.77 on March 11. 

Export Sales data from USDA showed a total of just 20,262 MT of pork sold in the week ending on 3/6, a calendar year low for sales. Mexico was the largest buyer of 6,300 MT, with 5,100 MT sold to Japan. Shipments were 33,570 MT, and back up from the week prior. Mexico was the destination of 11,200 MT, with 5,900 MT sold to South Korea. 

USDA’s FOB plant pork cutout was back up $2.71 in the Thursday afternoon report at $97.29 per cwt. The rib was the only primal reported lower, with the belly leading the charge, up $10.84. USDA estimated Federally inspected hog slaughter at 489,000 head on Thursday, with the weekly total at 1.954 million head. That is 136,000 head above last week and 59,418 head larger than the same week last year.

Apr 25 Hogs  closed at $85.625, down $0.875,

May 25 Hogs  closed at $88.800, down $1.650

Jun 25 Hogs  closed at $96.200, down $2.500,