Hogs Slip into Thursday's Close
Lean hog futures ended the Thursday session with contracts down 7 to 95 cents in the front months. USDA's national average base hog negotiated price was down $1.21 from the day prior at $87.67 in the Thursday PM report. CME's Lean Hog Index from April 1 was up 15 from the previous day on at $88.80.
In response to President Trump's reciprocal tariffs, China issued a retaliatory tariff of 34% on all US goods overnight.
Pork export sales totaled 52,953 MT in the week that ended on March 27, the largest so far this MY. Mexico was the buyer of 30,600 MT, with 10,300 MT to China. Export shipments came in at 32,899 MT, which was a 3-week high. Of that total, 12,200 MT was headed to Mexico, with 5,200 MT to South Korea.
Census trade data was released on Thursday morning, with a converted carcass basis total of 565.2 million lbs of pork exported in February. That was a 2% decline from January and down 4.8% from last year.
USDA's pork cutout value from Thursday afternoon was up $1.11 at $94.81 per cwt. The belly, picnic and rib primals were reported lower, with the loin leading the charge higher, up $7.04. USDA estimated the Thursday Federally inspected hog slaughter at 488,000 head, with a weekly total at 1.926 million head. That is down 13,000 head from last week but 106,548 head above the same week last year.
Apr 25 Hogs closed at $87.375, down $0.075,
May 25 Hogs closed at $88.575, down $0.550
Jun 25 Hogs closed at $95.550, down $0.975,
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
19 minutes ago
- Toronto Star
Mark Carney's bill to make Canada a ‘superpower' is unveiled
OTTAWA — Prime Minister Mark Carney's bid to Trump-proof and supercharge the Canadian economy was unveiled on Friday when the Liberal government tabled a bill to create a new process to fast-track 'nation-building' development projects and ease the flow of goods and workers within the country. The proposed 'One Canadian Economy' law opens a five-year window to conditionally approve specially-selected development projects upfront, so they can go through a streamlined process geared toward deciding how — rather than whether — they should get built.
20 minutes ago
Musk vs. Trump: A power couple tumbles into a messy divorce
Début du widget Widget. Passer le widget ? Fin du widget Widget. Retourner au début du widget ? It's splitsville for a global power couple. Donald Trump and Elon Musk are tumbling into a messy public divorce, with unusual political fallout. Tension between the erstwhile Oval Office buds bubbled into open view Thursday, as they exchanged digs in public and on their own social media sites. It got ugly, quickly. Within hours, Musk appeared to call for Trump's impeachment. Meanwhile, Tesla stock had plunged, as the market feared the president might punish Musk businesses. The official cause of the breakup between the world's most powerful elected politician and its richest man was the hefty U.S. federal budget deficit. Musk has been disparaging the president's signature budget bill since leaving his government role last week, fuming recently that the legislation will plunge the U.S. deeper into its debt hole (new window) . He called it a disgusting abomination. Trump's reply: Musk is just bitter. He suggests Musk is unhappy with parts of the bill that hurt his electric-vehicle business. He also suggests the Tesla billionaire misses the action in the White House. And because this is Donald Trump's Washington, the chancellor of Germany happened to be seated in the room, witness to one side of the feud. Elon and I had a great relationship. I don't know if we will anymore, Trump told reporters during a lengthy photo op Thursday in the Oval Office with Friedrich Merz. He's not the first. People leave my administration and they love us. And then at some point, they miss it so badly.... I don't know what it is. It's sort of Trump Derangement Syndrome, I guess they call it, he said. They leave, and they wake up in the morning, and the glamour's gone, the whole world is different — and they become hostile. I don't know what it is. It degenerated from there. Trump continued the dispute on his own social-media site. On Thursday afternoon, he posted on his social-media platform Musk was wearing thin, and suggested he'd fired him. I asked him to leave, Trump wrote on Truth Social, to which Musk responded on X, formerly Twitter, Such an obvious lie. So sad. The president also uttered a thinly veiled threat: Trump wrote that one easy way to trim the federal budget is to cancel government contracts with Musk's companies, worth billions (new window) . I was always surprised that Biden didn't do it! Tesla stock plunged abruptly, dropping (new window) 14 per cent within a couple of hours. 'Without me, Trump would have lost' Musk, meanwhile, has been using X, the enormous online megaphone he owns, to rail at the administration. He's disputing that his own business interests soured him on the budget bill. The legislation, which has passed the House but faces an uncertain path in the Senate, eliminates an EV tax credit. And he's demanding a little more gratitude after he dumped the equivalent of nearly $400 million Cdn into electing Trump and his allies. Début du widget Twitter. Passer le widget ? Fin du widget Twitter. Retourner au début du widget ? Without me, Trump would have lost the election, Musk posted Thursday on X. [Democrats] would control the House and the Republicans would be 51-49 in the Senate. He later replied, Yes, to a tweet calling for Trump's impeachment. Musk also predicted (new window) Trump's tariffs will cause a recession. And in an eye-poppingly personal (new window) string of tweets (new window) , Musk referred several (new window) times to Trump's encounters with the late sexual predator Jeffrey Epstein, offering no evidence or detail to buttress his ominous insinuations. Hints of trouble in political paradise It's an abrupt plot twist: The pair were all smiles and praise for each other just last week, as Musk announced his departure from Washington. But there were hints of trouble in political paradise. There were occasional reports of blowups between Musk and other members of the administration, and the New York Times reported (new window) that sources were concerned about Musk's frequent use of different drugs, including, allegedly, so much ketamine that it was affecting his bladder. Musk denied it. WATCH | Musk's time in the Trump administration comes to an end: Début du widget Widget. Passer le widget ? Fin du widget Widget. Retourner au début du widget ? Elon Musk gets Oval Office send-off from Trump U.S. President Donald Trump lauded billionaire Elon Musk's time heading the Department of Government Efficiency during an event marking the end of Musk's controversial tenure in the Trump administration. Now Musk has gone from White House consigliere to chief heckler in under a week — a speed record even for D.C. As is custom in Trump-era Washington, the human-resources gossip risks overshadowing the substantive challenges of the U.S. government. With American debt levels ballooning, and the cost of servicing the $36 trillion (new window) national debt recently outpacing even military spending, Musk was tasked with controlling finances. He slashed countless offices, programs, research initiatives, and even the entire agency that oversaw U.S. international aid. Still, it put only a modest dent in federal spending. Musk's DOGE project has eliminated an estimated $170 billion US, less than one-10th of the annual budget deficit (new window) . Musk's uncertain legacy in government If anything, the initiative demonstrated that actually halting the growth of the national debt would require real sacrifices from Americans: Either popular programs get cut or taxes go up. Even if Musk had eliminated all U.S. foreign aid, he could do it 25 times over (new window) , and the U.S. would still have a deficit, and the debt would keep growing. That's because the vast majority (new window) of U.S. federal spending is on pensions, the military, public health, income support, and paying past debt. But some of Musk's critics say his legacy in government can't be counted solely in terms of public finances. The co-author of a report titled Corruption In Plain Sight (new window) said at least 32 federal investigations into Musk companies might have vanished during his months in politics — in part, because the investigating agencies were defunded or the investigators were fired. Musk's legacy under DOGE is something that has benefited him, largely, said Margaret Poydock of the Economic Policy Institute, a group focused (new window) on fighting inequality that's funded (new window) mostly by union or left-of-centre donors. She cited several examples, like the Office of Federal Contract Compliance Programs, which screens federal contractors for workplace bias and racial discrimination, and can fine and punish offenders. It was auditing (new window) Tesla, but it was gutted (new window) quickly after Trump's inauguration. The U.S. Agency for International Development, meanwhile, had been investigating (new window) Musk's company Starlink over its service of satellites supplied to Ukraine (new window) ; he eliminated the agency. I think that's pretty egregious, Poydock said. Thursday's stock-market plunge, however, illustrated Musk's dalliance with politics also included downside risks. Unlike some (new window) relationships with (new window) Donald Trump, this one didn't come with a prenup. Alexander Panetta (new window) · CBC News
Toronto Sun
35 minutes ago
- Toronto Sun
U.S., Chinese officials to meet in London next week for new round of trade talks
Published Jun 06, 2025 • 1 minute read President Donald Trump speaks during a meeting with the Fraternal Order of Police in the State Dinning Room of the White House, Thursday, June 5, 2025, in Washington. Photo by Alex Brandon / AP WASHINGTON (AP) — Senior U.S. administration officials will meet with a Chinese delegation on Monday in London for the next round of trade negotiations between Washington and Beijing, President Donald Trump said Friday. The meeting comes after a phone call between Trump and Chinese leader Xi Jinping on Thursday, which the U.S. president described as a 'very positive' conversation as the two countries attempt to break an impasse over tariffs and global supplies of rare earth minerals. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer will represent the U.S. side in the trade talks. 'The meeting should go very well,' Trump wrote on his social media platform Friday afternoon. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Olympics Toronto & GTA NHL Ontario Editorial Cartoons
