Hog Market Faces Thursday Session

After starting the week with triple digit losses, the lean hog futures complex rallied back and closed their chart gaps on $0.80 to $4.42 gains. The deferred months closed mixed, as December hogs faded off their intraday high for a 27 cent gain on the day and Feb ’23 contracts went home 12 cents in the red. USDA’s National Average Base Hog price for Wednesday PM was $4.10 higher to $115.68. CME’s 5/26 Lean Hog Index was another 53 cents higher to $104.93. 

Front month pork cutout futures closed triple digits higher on Wednesday, with the board up $1.07 to $3.67 at the settle. CME’s Fresh Bacon Index was up $15.40 to $210.52 as of 5/27. USDA’s National Pork Carcass Cutout value for Wednesday’s PM report was $2.31 stronger to $110.02. Bellies were up by $13.98 cwt. to $172.53. The Wednesday kill was estimated at 477k head, setting the week’s total as 946k head. That is up from 846k during the same week last year.  

Jun 22 Hogs  closed at $109.800, up $1.825,

Jul 22 Hogs  closed at $112.425, up $4.425

Jun 22 Pork Cutout  closed at $114.025, up $1.925,