Today was the last day for California to get non-Prop12 compliant pork in stocks for the exception. Beginning July 1st existing non-Prop12 compliant pork stocks can still be sold, but is not allowed into the state of California. At the close, futures were 20 to 27 cents higher in the summer months, but down by 15 to 97 cents for the deferred contracts. The July-Dec spread widened by $6 for the week. USDA’s National Average Base Hog price was $3.04 lower to $90.96. The CME Lean Hog Index was $93.42, up by another 46 cents.
Pork cutout futures ended the day mixed as well with 27 to 50 cent gains nearby and 47 to 72 cent losses for the deferred months. The National Pork Carcass Cutout Value for Friday was quoted at $102.45, which was 45 cents weaker. USDA estimated the week’s hog slaughter under federal inspection at 2.332 million head through Saturday. That put the year’s pace at 63.133 million head, compared to 62.378 million last year.
Jul 23 Hogs closed at $95.650, up $0.200,
Aug 23 Hogs closed at $92.600, up $0.275
Jul 23 Pork Cutout closed at $101.075, up $0.275,
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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