Lean Hogs are trading with $0.52 to $1.47 gains at midday, leading the July contract to $102. Front month lean hog futures were down by $0.10 to $2.22 at the close. USDA reported the National Average Base Hog price as $101.75 after a $2.37 increase. The CME Lean Hog Index increased another 70 cents to $99.36 for 7/11.Â
The weekly Export Sales report had 24,485 MT of pork sales for the week that ended 7/6. That was down 6% from the prior week, but was 25% above the same week last year. Shipments fell 16k MT for the week to the lowest weekly total since October of 2018. Accumulated pork shipments were 857,275 MT and still 8% ahead of last year's pace.Â
Pork cutout futures are also mostly higher with gains of as much as 77 cents through midday. The Pork Carcass Cutout Value was up by another $1.44 as bellies jumped another $17.20 to $112.10 and $175.04 respectively. USDA estimates federally inspected hog slaughter at 1.388m head for the week through Wednesday. That is 46,000 head ahead of the same week last year’s pace.Â
Jul 23 Hogs  are at $101.900, up $0.725,
Aug 23 Hogs  are at $95.500, up $0.150
Jul 23 Pork Cutout  is at $110.625, up $0.400,
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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