Front month lean hog futures were mostly red on Tuesday, but firmed up off their lows and ended the day mixed. The summer months were 12 to 25 cents higher, while the deferred contracts settled 5 to 27 cents lower. The thinly traded May contract was $1.12 in the red at the bell, and just 7 cents off its daily low. USDA quoted the National Average Base Hog price at $73.89 for Tuesday afternoon, up by $1.04. The 4/28 CME Lean Hog Index was up by 61 cents to $72.10.
Pork cutout futures weakened by 7 to 82 cents on Tuesday. USDA’s National Pork Carcass Cutout Value was $1.61 higher on Tuesday afternoon to $82.08. USDA’s estimate for the Tuesday hog slaughter was 459,000 head. After revising Monday lower that set the week’s running total at 908k head, down by 31k from last week and by 49k from the same week last year. Â
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May 23 Hogs  closed at $78.175, down $1.125,
Jun 23 Hogs  closed at $89.950, up $0.250
Jun 23 Pork Cutout  closed at $94.725, down $0.075,
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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