Triple Digit Losses for Lean Hogs

Front month lean hog futures closed Tuesday mixed as the nearbys gave back as much as $4.02, but losses in December were limited to 20 cents and the Feb ’23 contract went home 17 cents in the black. USDA’s National Average Base Hog price was up by $1.90 in the PM report to $111.58. CME’s 5/26 Lean Hog Index was another 53 cents higher to $104.93. 

Pork cutout futures closed with $1.92 to $3.15 losses on the day. USDA’s National Pork Carcass Cutout value for Tuesday afternoon was $1.55 higher to $107.71. as $3.52 higher this morning to $109.68. USDA estimated the FI hog slaughter at 2k head for Memorial Day and 480k head for Tuesday. That compares to 400k head during the same two days last year. 

Jun 22 Hogs  closed at $107.975, down $2.425,

Jul 22 Hogs  closed at $108.000, down $3.725

Jun 22 Pork Cutout  closed at $112.050, down $2.450,