Lean hog futures are up a tick to $1.10 in the front months on Friday. USDA’s national base hog price was not reported on Friday morning. The CME Lean Hog Index was back down 7 cents on June 24 at $91.78
USDA’s Hogs and Pigs showed June 1 hog inventory down 0.04% from last year at 73.664 million head. Hogs kept for breeding were down 1.16% at 5.88 million head, with market hog inventory up just 0.05% to 67.784 million head, vs. trade estimates of 1.1%. The March-May pig crop was up 0.2% to 33.521 million head. Farrowings in that period were down 1.02%. Farrowing intentions for the June-August period are seen at 2.9 million head, down 2.19% from last year.
Pork stocks as of May 31 were tallied at 451.92 million lbs according to Cold Storage data, which was up 0.2% from the end of April and 0.26% larger yr/yr.
USDA’s pork carcass cutout value was $2.60 higher in the Friday AM report at $97.82. The ham was the only primal reported lower. USDA estimated federally inspected hog slaughter for Thursday at 479,000 head, taking the weekly total to 1.887 million head. That was up 11,000 head from last week and 13,375 head above the same week last year.
Jul 26 Hogs are at $92.900, up $0.200,
Aug 26 Hogs are at $96.625, up $0.025
Oct 26 Hogs are at $82.050, up $1.100,
On the date of publication, Austin Schroeder 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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