Following the sharp runnup in the hog market, which left the August contract with a net $5.35 gain Fri/Fri, the Friday session itself has futures down by 32 to 97 cents. USDA’s National Average Base Hog price fell a sharp $8.14 in the AM report back down to $85.41. The CME Lean Hog Index for 6/14 was up by 62c to $86.87.
Pork cutout futures are triple digits higher through midday. USDA’s National Pork Carcass Cutout Value was shown another $1.16 higher at $92.05. USDA estimated FI hog slaughter for the week through Thursday at 1.853 million head. That compares to 1.857m last week and 1.868 million during the same week last year.
Jul 23 Hogs are at $92.950, up $1.025,
Aug 23 Hogs are at $89.875, down $0.425
Jul 23 Pork Cutout is at $96.775, up $1.150,
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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