Lean Hog Futures Down on Export Sales Dip; Feb 26 Closes at $87.30

Lean hog futures closed lower on Thursday, with front-month contracts falling 7 to 70 cents. USDA's national base hog price was $86.58, down 24 cents from the prior day. The CME Lean Hog Index rose 23 cents to $86.06 on Feb 3. Weekly export sales for the week ending Jan 29 totaled 35,107 MT, down 37.3% from the prior week and 30.7% below the same week last year. Mexico accounted for 13,800 MT, with 5,200 MT sold to China. Export shipments were 37,622 MT, up 4.7% from the same week last year. The USDA reported a carcass cutout value of $95.27/cwt on Thursday, with the belly up $6.38 and the rib down. Slaughter for Thursday totaled 450,000 head, bringing the weekly total to 1.903 million head, 38,000 head above last week but 26,824 head below the same week last year. Feb 26: $87.300, -0.700 Apr 26: $98.375, -0.075 May 26: $101.500, -0.250