Lean hog futures are rallying by as much as 2.7% so far through midday. June futures are leading the way on a $2.35 gain. The CME Lean Hog Index was $75.91, up 51 cents on 5/11. The USDA National Average Base Hog price was withheld for confidentiality on Monday morning. The PM quote was $74.36 on Friday, down by $2.59.
Pork cutout are also triple digits stronger to start the new week of trading. USDA’s National Pork Carcass Cutout Value was up by 12 cents on Monday morning to $83.53. USDA estimated the week’s FI hog slaughter at 2.375m head through Saturday. That is 72k head below last week but is up 12k head from the same week last year. The year-to-date running total was at 46.970 million head, up 1.5% from last year’s pace.
Jun 23 Hogs are at $86.500, up $2.400,
Jul 23 Hogs are at $87.675, up $2.350
Jun 23 Pork Cutout is at $90.400, up $2.250,
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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