Lean hog trade turned back lower after strong gains last week. At the close, the front month futures were $0.35 to $2.37 in the red. USDA’s National Average Base Hog price for Monday afternoon was $1.18 higher to $72.85. The 4/27 CME Lean Hog Index was $71.49 after a 20 cent increase.
Pork cutout futures fell by $0.50 to $2.12 on Monday. USDA’s National Pork Carcass Cutout Value was 85 cents lower to $80.47 on Monday afternoon. Bellies were the outlier with a $5.09 increase. The CME Fresh Bacon Index was $108.45 for the week of 4/28, up from $105.30 last week. USDA estimated Monday’s FI hog slaughter at 459k head. That is 10k below last week and is 17,000 head below the same Monday last year.
May 23 Hogs closed at $79.300, down $0.350,
Jun 23 Hogs closed at $89.700, down $2.000
May 23 Pork Cutout closed at $84.150, down $0.500,
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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