Lean hog futures ended the day with a 1.2% gain in the June contract. It remains a 92 cent discount to July, which was up 62 cents, and a $10.60 premium to where May expired. The deferred contracts closed red on the day with a nickel to 70 cent loss. The CME Lean Hog Index was $75.91, up 51 cents on 5/11. The USDA National Average Base Hog price was $82.79 on Tuesday. The ECB quote was $77.24 compared to $84.80 in the WCB.
Front month pork cutout futures were also mixed on Tuesday, settling down by as much as 12 cents and up by as much as 55 cents. USDA reported the National Pork Carcass Cutout Value at $83.75 on Tuesday afternoon, down by 63 cents. USDA estimated Tuesday’s FI hog slaughter at 470,000 head for a weekly total of 934,000. That is up 15,000 head from last week’s pace.
Jun 23 Hogs closed at $87.200, up $1.050,
Jul 23 Hogs closed at $88.125, up $0.625
Jun 23 Pork Cutout closed at $90.700, up $0.550,
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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