Piglets napping
The July and August hog contracts are building more premium into the market with $2.47 and $2.77 gains respectively. The other front months are mostly higher, though the ’24 contracts are in the red at midday. USDA’s National Average Base Hog price increased another $4.29 to $98.49. The CME Lean Hog Index for 6/29 was $93.92 after a 50 cent increase.
Pork cutout futures are up triple digits across the front months through Wednesday’s midday. The National Pork Carcass Cutout Value was another $2.85 stronger to $110.85 in the AM report. USDA estimated Monday’s FI hog slaughter at 394k head.
Jul 23 Hogs are at $100.375, up $2.550,
Aug 23 Hogs are at $97.175, up $2.850
Jul 23 Pork Cutout is at $104.200, up $1.650,
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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