Lean hog futures experienced modest gains on Thursday, closing up between 5 to 20 cents. The national average base hog price fell to $79.02, a decline of $2.37 from the previous day, while the CME Lean Hog Index increased by 28 cents to $83.61. The USDA reported pork export bookings of 22,460 MT for 2024 and 4,574 MT for 2025, marking a three-week low and a significant 44.2% drop compared to the same week last year, with Mexico and Japan being the primary buyers.
This data reflects a mixed outlook for the pork market, as lower export sales could weigh on future pricing. However, the increase in shipments to 33,755 MT, a five-week high, suggests some resilience in demand, particularly from Mexico and South Korea. The FOB plant pork cutout value also saw a decrease, indicating pressure on pork prices.
Market professionals should monitor these trends closely, as fluctuations in export demand and domestic prices could influence trading strategies in the lean hog market moving forward.
Source: nasdaq.com