Lean hogs are mostly higher though trading mixed within 20 cents of UNCH through the summer months. The fall futures are trading with 30 to 70 cent gains so far. The National Average Base Hog price was 49 cents weaker in the AM report to $72.66. The 3/30 CME Lean Hog Index was 31 cents weaker to $75.46.
Pork cutout futures are in the red so far through midday, giving back 15 to 85 cents. USDA’s Pork Carcass Cutout value was $2.90 higher in the AM report to $80.18. USDA estimated the week’s FI hog slaughter at 2.497m head through Saturday. That is up 40k from last week and is 58k head above the same week last year. YTD hog slaughter is 1.7% above last year’s pace.
April 23 Hogs are at $74.725, down $0.525,
May 23 Hogs are at $84.900, up $0.275
April 23 Pork Cutout is at $80.450, down $0.350,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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