The lean hog market is down by triple digits for Turnaround Tuesday. The summer months are down the most after April rolled off the board. The USDA National Average Base Hog price for Tuesday morning was $67.94, with no comparison to yesterday. Â
China reported 150k MT of pork imports for March. That is 11.2% above last year and has their full year total at 530,00 MT. China’s domestic pork production was 15.9 MMT in Q1 2023. That is a 5-yr high.Â
Pork cutout futures are also down by triple digits at midday. USDA’s national Pork Carcass Cutout value was 85 cents higher to $78.46 in the AM report. USDA estimated Monday’s FI hog slaughter at 462,000 head. That compares to 345k head last week and 356k during the same week last year – both of which were impacted by Easter.Â
May 23 Hogs  are at $79.650, down $1.350,
Jun 23 Hogs  are at $86.425, down $1.750
May 23 Pork Cutout  is at $85.350, down $1.025,
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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