Lean hogs are showing 60 cent to $1.02 stronger trade on Friday , with May down 27 cents and sticking close to the index ahead of next week’s expiration. USDA’s National Average Base Hog negotiated price was down $1.09 in the Friday morning report at $87.87. The CME Lean Hog Index was unchanged on May 8 at $91.28.
USDA’s quarterly production estimates for pork saw an overall decrease to the 2024 estimate by 26 million lbs to 28.064 billion. Much of that was in Q1, Q3, and Q4, with Q2 seeing an increase.
USDA’s National Pork Carcass Cutout Value was back up $1.75 in the Friday AM print at $100.18. All 6 primals were reported higher, with the butt and ham leading the way. USDA estimated Thursday’s federally inspected hog slaughter at 472,000 head, with the WTD total at 1.908 million head. That is 9,000 head below last week but up 49,352 head from the same week last year.
May 24 Hogs are at $91.700, down $0.275,
Jun 24 Hogs are at $98.750, up $1.025
Jul 24 Hogs is at $101.875, up $0.825,
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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