July hogs are up by $2.60 through midday, and have re-captured 50% of the YTD drop. The other front months are also rallying $0.65 to $3.15 through Monday’s midday, though June contracts are down 62 cents ahead of the expiration. USDA’s National Average Base Hog price was up by $6.50 on Monday morning to $91.75. The CME Lean Hog Index increased 48 cents to $84.28 on 6/8.
Pork cutout futures are trading in a similar manner with a 50c drop for June and $0.92 to $2.42 gains for the other front months. USDA’s National Pork Carcass Cutout Value for Monday morning was 35 cents weaker to $88.04. USDA estimated the week’s FI hog slaughter at 2.363 million head through Saturday. That was 3k head lighter than the same week last year and left the YTD total at 56.115 million head.
Jun 23 Hogs are at $87.250, down $0.625,
Jul 23 Hogs are at $92.225, up $2.600
Jun 23 Pork Cutout is at $88.750, up $0.050,
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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