Lean hog futures posted losses of 90 cents to $1.80 on Thursday, as July was back down $5.27 this week. USDA’s national base hog price was back down $1.85 in the Thursday PM report, with negotiated trade at $110.21. The CME Lean Hog Index was down 77 cents at $110.22 on July 1. The market will be closed on Friday, with a normal Monday morning open.

The weekly Export Sales report indicated a total of just 27,130 MT of pork was sold in the week of 6/26, a 3-week low. Mexico was the top buyer of 15,200 MT, with 4,300 MT sold to Japan. Shipments were tallied at a 4-week low of 30,068 MT. The top destination was Mexico at 12,000 MT, with 4,300 MT headed to China. 

Monthly export data per the Census release showed 564.6 million lbs of pork shipped in May when converted to a carcass basis. That was a 3-year low for the month and down 3.1% from April. 

USDA’s Thursday afternoon FOB plant pork cutout value was down another 54 cents at $110.21. The butt and picnic primals were the only reported higher. Federally inspected hog slaughter for Thursday as estimated at 407,000 head by USDA, taking the WTD total to 1.821 million head. That is down 66,000 head from last week and 393,922 head above the same week last year.

Jul 25 Hogs  closed at $107.975, down $1.675,

Aug 25 Hogs  closed at $106.100, down $1.800

Oct 25 Hogs  closed at $92.100, down $0.900,