Front month lean hog futures are trading with 12 to 45 cent gains through Wednesday’s midday. May had 3,632 contracts of OI as of 4/25. 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.
NASS Cold Storage data showed 533.916m lbs of pork stocks on March 31. 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.
Front month pork cutout futures are down by 7 to 50 cents so far. Due to site structure issues, the USDA boxed beef price report is delayed; the quote was $78.41 on Tuesday afternoon. 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.
May 23 Hogs are at $77.000, up $0.125,
Jun 23 Hogs are at $86.750, down $0.300
May 23 Pork Cutout is at $83.750, down $0.175,
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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