At the Monday close lean hog prices were 15 to 65 cents lower, with thinly traded May up 10 cents. May expires on Friday. The USDA National Average Base Hog price was $1.10 weaker on Monday to $70.89. The CME Lean Hog Index was $74.53 on 5/4, up by 29 cents.
Pork cutout futures were also mixed to start the week, as May closed $1.25 higher and August was up by 2 cents to the summer month losses of 35 and 40 cents. USDA’s National Pork Carcass Cutout Value for Monday was 7 cents higher to $81.94. USDA estimated FI hog slaughter at 468,000 head for Monday. That is up from 449k last week and from 459k during the same Monday last year.
May 23 Hogs closed at $75.625, up $0.100,
Jun 23 Hogs closed at $83.300, down $0.475
May 23 Pork Cutout closed at $82.600, up $1.400,
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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