The summer to fall spread is widening again through the midweek session as lean hogs remain trading mixed. July and August gains are limited to 20 cents at midday, while the deferred contracts are down as much as $1. USDA’s National Average Base Hog price was $1.04 higher to $93.50 on Wednesday morning. The CME Lean Hog Index was up by 70 cents to $92.11 on 6/23.
Pork cutout futures are also mixed so far with gains nearby and losses of as much as 87 cents out to December. The National Pork Carcass Cutout Value was $2.97 weaker to $97.19. USDA estimated the week’s FI hog slaughter at 906k head through Tuesday, matching the same week last year, but down 22k head for the week.
Jul 23 Hogs are at $94.275, up $0.150,
Aug 23 Hogs are at $91.250, up $0.200
Jul 23 Pork Cutout is at $99.650, up $0.150,
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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