Triple Digit Monday Losses in Hogs

Like many other futures prices, lean hogs came out of the weekend with over a full % point drop. Through midday, lean hog futures are 1.22% to 2.57% in the red with July’s $2.85 loss leading the way. The National Average Base Hog price was 97 cents firmer for Monday morning to $101.42. CME’s Lean Hog Index for 5/5 was another 5 cents lower to $100.91.

Pork cutout futures are trading $1.97 in the red for June, with the other contracts yet to establish a trade for the day. USDA’s National Pork Carcass Cutout Value for Monday morning was 16 cents weaker to $104.54. FI hog slaughter for the week through Saturday was estimated as 2.427m head. With that, that was a 38k head increase wk/wk and would be up by 33k head from the same week last year. YTD hog slaughter still trails last year’s pace by 5.4%. 

May 22 Hogs  are at $100.800, down $1.400,

Jun 22 Hogs  are at $101.550, down $2.550

Jun 22 Pork Cutout  is at $108.675, down $1.975,