Hogs Rallying into Weekend

Front month lean hog futures gapped higher to start the Friday session. Futures have since printed over $1 ranges, but are still up 20 cents to $1.97 through the ’22 expiry contracts. The deferred contracts are UNCH to red at midday. USDA’s National Average Base Hog price for Friday morning was $1.51 weaker to $115.34. The 6/14 CME Lean Hog Index was 44 cents higher to $108.57.  

Pork cutout futures are up by triple digits in the months that are trading. USDA’s National Pork Carcass Cutout Value was up by $1.87 to $113.23. Ribs were up by $12.99. USDA estimates FI hog slaughter for the week at 1.867m head through Thursday. That compares to 1.907m head last week and 1.918m head during the same week last year. 

Jul 22 Hogs  are at $111.050, up $1.475,

Aug 22 Hogs  are at $108.200, up $2.175

Jul 22 Pork Cutout  is at $115.150, up $1.450,