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June pork exports totaled 165,065 metric tons valued at $468.3 million. This pushed the first half total to 1.13 million metric tons valued at $3.17 billion, which was 5 percent higher in volume and 13 percent higher in value than the record pace of 2011. June export value equated to $54.78 per head slaughtered, bumping per-head value for the year to $57.80 – more than 10 percent higher than in the first half of 2011. For the year, about 24 percent of U.S. muscle cut production has been exported and nearly 28 percent of total production (muscle cuts plus variety meat). Last year these ratios were 22.5 percent and 27 percent, respectively
Lean hog index for August 17, 2011 $106.02...Lean hog index for August 17, 2012...$90.37..October lean hog futures are trading under $76.00. Neg. head count for 08/17/2012 was 26,540 @$90.63 and SPMF head count for August 17, 2012 was 192,071 @$90.03. With a short corn and bean crop, pork exports should stay strong even though the october futures don't indicate they will. Would someone care to comment on why hogs are down so much this year and why we have such a large discount in futures to cas index. | |
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August 2011, August 2012 lean hog prices
