Friday trading is pushing the lean hog futures market another triple digits lower, led by a $2.12 drop in August through midday. June contracts are down a net $6 so far for the week and well below the Index. USDA’s National Average Base Hog price was another $3.63 lower to $75.36. The CME Lean Hog Index was $80.80 in on 5/24 after another 13 cent increase.
Pork cutout futures are also trading triple digits in the red through midday. USDA’s National Pork Carcass Cutout Value was $2.54 higher to $83.73 in the AM report. USDA estimated FI hog slaughter at 1.903m head for the week through Thursday. That is 33k head above last week’s pace.
Jun 23 Hogs are at $76.725, down $0.925,
Jul 23 Hogs are at $75.425, down $1.825
Jun 23 Pork Cutout is at $81.275, down $2.000,
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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