After pushing lower through most of the Tuesday session, lean hog futures firmed for the close. The board was mixed at the close as the front months settled with 20 to 82 cent losses but the back months were 12 to 25 cents higher. The National Average Base Hog price was $1.15 higher in the PM report at $67.08. The CME Lean Hog Index was 10c weaker on 4/21 at $71.31.Â
NASS data showed 533.916m lbs of pork stocks for March. That was a 12.7m lb build from February and 9.9% larger than last year. For bellies specifically, NASS reported 76.979m lbs in cold storage. That was a 9% increase from last month and was up from 56.8m lbs last year.Â
Front month pork cutout prices closed Tuesday 7 to 62 cents weaker. USDA’s National Pork Carcass Cutout value for Tuesday afternoon was shown at $78.41 after a 27 cent drop. USDA has the week’s FI hog slaughter at 945k head through Tuesday. That is 1,000 head below last week and is 6,000 head above the same week last year.
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May 23 Hogs  closed at $76.875, down $0.825,
Jun 23 Hogs  closed at $87.050, down $0.300
May 23 Pork Cutout  closed at $83.925, down $0.525,
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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