Lean hog futures are trading 0.88% to 2.5% lower through Wednesday’s midday. The June contract is up 40 cents from the low, but still 72 cents in the red. USDA’s National Average Base Hog price for Wednesday morning was $1.83 stronger to $92.44. The CME Lean Hog Index for 6/2 was 69 cents higher to $81.21.
Pork cutout futures are also down by 30 cents to $1.62 across the front months. USDA’s National Pork Carcass Cutout Value was 21 cents higher on Wednesday morning to $85.19. USDA estimated FI hog slaughter at 469k head on Tuesday for a weekly total of 936k. That is 7,000 head behind last year’s pace for the same week.
Jun 23 Hogs are at $87.425, down $0.875,
Jul 23 Hogs are at $87.150, down $1.175
Jun 23 Pork Cutout is at $89.525, down $0.875,
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.
/A%20Palantir%20office%20building%20in%20Tokyo_%20Image%20by%20Hiroshi-Mori-Stock%20via%20Shutterstock_.jpg)
/Advanced%20Micro%20Devices%20Inc_%20office%20sign-by%20Poetra_RH%20via%20Shutterstock.jpg)
/AI%20(artificial%20intelligence)/Businessman%20touching%20the%20brain%20working%20of%20Artificial%20Intelligence%20(AI)%20Automation%20by%20Suttiphong%20Chandaeng%20via%20Shutterstock.jpg)