June contracts are at a $1.20 gain for the week so far, while August is $2.17. Nearby lean hog futures settled Thursday mixed with June up by 42 cents but August down by 95 cents. The USDA National Average Base Hog price was $5.76 lower on Thursday to $78.98. Wednesday was $1.95 higher at $84.74. The 5/15 CME Lean Hog Index was $77.17 after a 67 cent increase.
USDA’s weekly Export Sales report showed 32k MT of pork was booked for the week that ended 5/11. That was a 6% increase for the week and was up 32% from the same week last year. Pork shipments were 36.8k MT for the week. The YTD total reached 609k MT, which is 7% ahead of last year’s pace.
The pork cutout futures market ended the day down by 20 cents to $1.05. USDA’s National Pork Carcass Cutout Value was up by 66 cents to $83.73 in the PM report. USDA estimated the week’s federally inspected hog slaughter at 1.87 million head, which is up 18k from last week but down from 1.893 million during the same week last year.
Jun 23 Hogs closed at $85.300, up $0.425,
Jul 23 Hogs closed at $85.600, up $0.050
Jun 23 Pork Cutout closed at $88.900, down $0.200,
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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