Lean hog futures are working 10 cents lower in the July to triple digits weaker in the other front months. April ’23 contracts are down $1.72 so far for midday. USDA’s quarterly Hogs & Pigs report is due for release on Wednesday. USDA’s National Average Base Hog price for Monday morning was $5.70 weaker to $114.23. The 6/23 CME Lean Hog Index was 22 cents higher to $110.91.
Pork cutout futures are also down by triple digits in the contracts that have traded. USDA’s National Pork Carcass Cutout Value for Monday morning was $0.67 weaker to $111.53. USDA has the FI hog slaughter estimated at 2.304m head for the week through Saturday. That was down 68k head from the week prior and 50k head below the same week last year.
Jul 22 Hogs are at $110.650, down $0.275,
Aug 22 Hogs are at $105.825, down $0.950
Jul 22 Pork Cutout is at $111.750, down $0.100,
/Super%20Micro%20Computer%20Inc%20HQ%20photo-by%20Tada%20Images%20via%20Shutterstock.jpg)
/Quantum%20Computing/A%20concept%20image%20showing%20a%20ray%20of%20light%20passing%20through%20cyberspace_%20Image%20by%20metamorworks%20via%20Shutterstock_.jpg)