Triple Digit Losses in Lean Hogs

Lean hogs slid again on Tuesday, adding another $0.87 to $3.20 to the downside. May hogs were the outlier, closing just 10 cents weaker on limited OI. USDA’s National Average Base Hog price was up $2.57 to $100.13. CME’s 4/29 Lean Hog Index was down by another 18 cents to $101.59. 

Pork cutout futures ended the session $1.92 to $2.85 weaker, save for May which was up by 15 cents. USDA’s afternoon quote for the National Pork Carcass Cutout Value was $1.02 lighter to $105.56. USDA estimated FI hog slaughter at 480k head for Tuesday, for a 962k head WTD total. That compares to 945k head last week, and outpaces the same week last year by 960k head.  

May 22 Hogs  closed at $99.775, down $0.100,

Jun 22 Hogs  closed at $102.200, down $2.775

Jun 22 Pork Cutout  closed at $109.000, down $2.850,