The soon-to-expire May contract is trading 37 cents higher on thin volume and OI so far through Wednesday. June is also up by 22 cents. The other front month futures are down by 5 to 50 cents so far. The USDA National Average Base Hog price was up by $4.30 in the AM report to $76.86. The CME Lean Hog Index was $74.42 on 5/5 after an 11 cent drop.
Nearby pork cutout futures are trading mostly higher, though gains are less than 22 cents so far. USDA’s National Pork Carcass Cutout Value was $81.31 in the AM report after a 78 cent drop. 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.
Jun 23 Hogs are at $84.650, up $0.250,
Jul 23 Hogs are at $86.475, down $0.025
Jun 23 Pork Cutout is at $88.975, up $0.225,
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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