Friday’s hog futures trading is looking to limit the week’s loss with a Friday bounce. The nearby contracts are up triple digits so far, though June is still at a 17 cent loss for the week. The National Average Base Hog price was withheld for confidentiality this morning, after a 75 cent drop on Thursday to $66.92. The CME Lean Hog Index for 4/19 was $71.41, down by 16 cents.
Pork cutout prices closed at the lows for the day with $1.02 to $2.35 losses. USDA’s national Pork Carcass Cutout value for Friday morning was $2.65 higher to $80.80. USDA estimates the week’s FI hog slaughter at 1.905m head through Thursday. That compares to 1.79m last week and 1.801m during the same week last year.
May 23 Hogs are at $77.500, up $0.675,
Jun 23 Hogs are at $86.725, up $1.650
May 23 Pork Cutout is at $83.350, up $0.650,
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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