The lean hog futures market ended the Tuesday trading session with $0.65 to $1.22 gains across the front months. May was the weak link as OI remains thin going into Friday’s last trade day. June saw a new contract low of $82.72 with Tuesday’s $1.98 trading range. The USDA National Average Base Hog price was 79 cents higher in the PM update at $73.59. The CME Lean Hog Index was $74.42 on 5/5 after an 11 cent drop.
Pork cutout futures settled with $0.42 to $1.47 gains. USDA’s National Pork Carcass Cutout Value was up by 15 cents to $82.09. USDA estimated FI hog slaughter for Tuesday at 451,000 head. That set the week’s running total at 919k head, matching last week’s pace, but 18k head behind the same week last year.
May 23 Hogs closed at $76.275, up $0.650,
Jun 23 Hogs closed at $84.400, up $1.100
Jun 23 Pork Cutout closed at $88.650, up $0.975,
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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