Despite the nearly 3% losses on Wednesday, June and July hog futures remain in the black for the week. The other contracts flipped into the red after printing $1.37 to $3.02 losses on Wednesday. The USDA National Average Base Hog price for Wednesday was $1.95 higher at $84.74. The 5/15 CME Lean Hog Index was $77.17 after a 67 cent increase.
The pork cutout futures market settled the midweek session $1.60 to $2.77 lower. USDA’s National Pork Carcass Cutout Value was 68 cents weaker to $83.07 on Wednesday. USDA estimated the week’s federally inspected hog slaughter at 1.4 million head through Wednesday. That is up 16,000 head from last week, but trails the same week last year by 18,000.
Jun 23 Hogs closed at $84.875, down $2.325,
Jul 23 Hogs closed at $85.550, down $2.575
Jun 23 Pork Cutout closed at $89.100, down $1.600,
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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