Front month lean hog futures are down by 32 to 97 cents through Thursday’s midday. The USDA National Average Base Hog price was 27 cents lower to $76.59. The CME Lean Hog Index was $74.64 on 5/8, which was up by 22 cents.
The Supreme Court rejected a challenge to California’s Prop 12.
The FAS data had 30,043 MT of pork sold for export during the week that ended 5/4. That was down from 49k MT last week, but was 14% above the same week last year. Shipments were 37k MT for the week. That set accumulated exports at 572,664 MT as of 5/4, a 7% lead over last year’s pace.
Pork cutout futures are trading 20 cents to $1.70 weaker through midday. USDA’s National Pork Carcass Cutout Value was $79.70 after a $2.04 drop. USDA estimated FI hog slaughter at 1.384m head through Wednesday. That is 2k head behind last week’s pace and is 28k head below the same week last year.
Jun 23 Hogs are at $83.750, down $0.425,
Jul 23 Hogs are at $85.150, down $0.825
Jun 23 Pork Cutout is at $87.950, down $0.675,
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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