The thinly traded May hog contract was 2 cents lower on Wednesday, as the rest of the market was 1.5% to 2.3% lower. For the July contract that left the board within 50 cents of giving all of last week’s rally back. USDA quoted the National Average Base Hog price at $72.11 this morning, up by $1.98. CME’s Lean Hog Index was $73.02 on 5/1, up by 92 cents.
Pork cutout futures closed with $2.02 to $2.35 losses past the May contract’s 10 cent gain. USDA’s National Pork Carcass Cutout Value for Wednesday morning was $81.44 after a 64 cent drop. 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.
May 23 Hogs closed at $78.150, down $0.025,
Jun 23 Hogs closed at $88.000, down $1.950
May 23 Pork Cutout closed at $83.425, down $0.725,
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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