Most of the lean hog market slid back on Thursday, but the June contract ended the session with a 97 cent gain. The other front months backed off by as much as $1.82 on the day. USDA’s National Average Base Hog price faded 4 cents on strong 20k head volume to $86.58. The CME Lean Hog Index was $79.53 on 5/30, down by 55 cents.
Pork cutout futures followed suit with a 70c gain for June, but $1.50 to $1.70 losses in the other nearby contracts. USDA’s National Pork Carcass Cutout Value for Thursday was 41 cents higher to $85.68. USDA’s estimate for the week’s federally inspected hog slaughter is 1.443m head. That is up 20k from the same week last year, but incomparable to last week due to Memorial Day.
Jun 23 Hogs closed at $83.550, up $0.975,
Jul 23 Hogs closed at $82.050, down $1.275
Jun 23 Pork Cutout closed at $86.250, up $0.700,
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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