The summer month contracts are fading 15 to 85 cents through midday. The back months are up by as much as 67 cents in a mixed session. USDA’s National Average Morning Base Hog price was shown as $80.30 for Monday after a $1.07 drop. The CME Lean Hog Index was $80.52 on 6/1, up by 89 cents.
Pork cutout futures are also mixed, but mostly lower. USDA’s National Pork Carcass Cutout Value was a strong $8.06 higher to $92.78. Hams were up by $10, but bellies were up the most with a $36.33 increase. USDA’s estimate for the week’s FI hog slaughter is 2.033m head through Saturday. That is down 11k from the same week last year. The full year total is 1.3% ahead of last year’s pace.
Jun 23 Hogs are at $85.675, down $1.050,
Jul 23 Hogs are at $84.175, down $0.475
Jun 23 Pork Cutout is at $88.550, down $0.475,
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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