Lean hogs are back to lower trade on Wednesday, despite showing gains early in the day. Contracts are down a tick to 30 cents in most contracts, with June up 7. USDA’s National Average Base Hog negotiated price was at $87.64 in the Wednesday morning report. The CME Lean Hog Index was down another 37 cents on May 24 at $91.26.
China’s Ministry of Ag reported that their national sow herd was 39.86 million head at the end of April, down 7% year/year but only down 0.1% from March. Liquidation has slowed considerably from last winter’s pace.
USDA’s National Pork Carcass Cutout Value was back down 92 cents in the Wednesday AM print at $102.48. The picnic and rib primals were the only two reported higher. USDA estimated federally inspected hog slaughter 485,000 head for Tuesday. That was up 14,000 head from the week prior and 5,569 head above the same week last year.
Jun 24 Hogs are at $93.875, up $0.075,
Jul 24 Hogs are at $96.500, down $0.025
Aug 24 Hogs is at $95.975, down $0.125,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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