Front month hogs are trading another nickel to 67 cents higher on Tuesday. The back months are reversing course with 50 to 70 cent losses so far. The CME Lean Hog Index was $75.91, up 51 cents on 5/11. The USDA National Average Base Hog price for Tuesday morning was $73.01, with no comparison to yesterday’s quote due to confidentiality. The Friday quote was $74.36, down by $2.59.
Pork cutout futures are also mostly higher at midday, gaining 40 cents to $1.02. USDA’s National Pork Carcass Cutout Value was 47 cents stronger to $84.85. USDA estimated Monday’s FI hog slaughter at 469k head, up 1,000 from last week and 2,000 from the same week last year.
Jun 23 Hogs are at $87.200, up $1.050,
Jul 23 Hogs are at $88.350, up $0.850
Jun 23 Pork Cutout is at $91.175, up $1.025,
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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