Lean Hogs Futures Market News and Commentary
Lean hog futures posted $1.32 to $3.60 gains on Monday. The National Average Base Hog price for Monday morning was $101.64 up 17 cents from the day prior. CME’s Lean Hog Index for 5/12 was 55 cents lower to $100.49.
Pork cutout futures were $3.20 higher on Monday. USDA’s National Pork Carcass Cutout Value was up $0.38 in the PM update to $101.55. The belly was the leader, up $8.20, with all but the ham and rib primals reported higher. FI hog slaughter for Monday was estimated as 480,000 head. That is up 19,000 head wk/wk and 7,000 head above the same week last year.
Jun 22 Hogs closed at $103.825, up $3.075,
Jul 22 Hogs closed at $104.800, up $3.600
Jun 22 Pork Cutout closed at $109.600, up $3.200,