Lean Hogs Futures Market News and Commentary
Lean hog futures were mixed, with front months up 67 cents to $2.95 and deferred contracts down 32 cents to $1.17. The National Average Base Hog price for Tuesday morning was $111.38 up $9.74 from the day prior. CME’s Lean Hog Index for 5/13 was 42 cents lower to $100.07.
Pork cutout futures were $1.47 higher. USDA’s National Pork Carcass Cutout Value was up $0.56 in the PM update to $102.11. The belly and ham were the only primals reported higher. The CME Weekly Fresh Bacon Index was $186.85, down $16.94/cwt from the previous week. FI hog slaughter for Tuesday was estimated as 477,000 head, bringing the WTD total to 947,000 head after a revision to Monday. That is up 6,000 head wk/wk and 7,000 head above the same week last year.
Jun 22 Hogs closed at $105.150, up $1.325,
Jul 22 Hogs closed at $107.750, up $2.950
Jun 22 Pork Cutout closed at $111.075, up $1.475,