Following the mid/late April to mid May weakness, lean hogs have bounced back more than $10 with another $1.10 to $3.57 of that on Friday’s trade. The National Average Base Hog price for Friday was $110.15 after a $1.18 slide. CME’s Lean Hog Index for 5/18 was $100.37, up by 29 cents.
Pork cutout futures went home for the weekend with $1.45 to $2.92 gains. USDA’s National Pork Carcass Cutout value was $3.65 higher this afternoon to $107.11. USDA’s federally inspected hog slaughter estimate for the week was 2.414m head. That was 39k higher wk/wk and 23k head more than the same week last year. Hog slaughter is still down 4.9% YTD from last year’s pace.
Jun 22 Hogs closed at $108.875, up $3.575,
Jul 22 Hogs closed at $109.000, up $2.025
Jun 22 Pork Cutout closed at $114.100, up $2.675,
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