At the closing bell for the Thursday sell off, hog prices were $1.45 to $1.92 in the red. Prices are triple digits in the red so far at midday. USDA’s National Average Afternoon Base Hog price for Thursday was down another $2.28 to $113.45. The May 11th CME Lean Hog Index was another 12 cents higher at $110.95.  

USDA’s Export Sales report showed 14,745 MT of pork was sold during the week ending 5/6. That was the second lowest weekly sale for the year, behind an adjustment made during the week ending 4/15 which resulted in a net 22k MT decrease. The week’s sale was still 36% higher yr/yr. 

Pork cutout futures closed $0.80 to $1.92 in the red. USDA’s National Pork Carcass Cutout Value was $116.19 in the PM report following a $2.08 bump. Bellies were the strongest, up by $10.98 to $174.64. USDA estimates the week’s running hog slaughter at 1.920 million head through Thursday. That’s down 11,000 head wk/wk. 

Jun 21 Hogs  closed at $110.100, down $1.925,

Jul 21 Hogs  closed at $110.100, down $1.825

Jun 21 Pork Cutout  closed at $116.300, down $1.475,