The back month futures are trading 30 to 60 cents higher at midday, as the summer month contracts are fading with 12 to 77 cent losses. The July contract is still at a $10.10 premium to December contracts. USDA’s National Average Base Hog price was up by $3.36 in the AM update to $79.37. The 5/19 CME Lean Hog Index was $79.57, up by 34 cents.
Pork cutout futures are red through midday with $0.02 to $1.77 losses. July is down the most. USDA’s National Pork Carcass Cutout Value for Wednesday morning was $2.25 weaker to $81.25. Federally inspected hog slaughter was estimated at 481k head on Tuesday for a weekly total of 954k. That is 20,000 head more than last week’s pace and is 16k head more than the same week last year.
Jun 23 Hogs are at $79.850, down $0.825,
Jul 23 Hogs are at $80.775, down $0.200
Jun 23 Pork Cutout is at $84.525, down $0.025,
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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