Lean hogs are posting steady to 40 cent higher trade on Friday’s midday. USDA’s National Average Base Hog negotiated price was at $86.93 in the Friday morning report, down 73 cents from the day prior. The CME Lean Hog Index was back up 21 cents on May 29 at $91.00.
Export bookings for pork were up a sharp 69% from last week at 44,400 MT, with 23,200 MT to Mexico. That was the third largest total this MY. Shipments in the week of May 23 were tallied at 34,700 MT, 1% larger than the week prior and a 3-week high.
USDA’s National Pork Carcass Cutout Value was up $1.94 the Friday AM print at $103.89. The rib ($10.20), butt ($2.84) and ham ($5.84) all carried the load and were reported higher. USDA estimated federally inspected hog slaughter 487,000 head for Thursday, with the weekly total at 1.447. That is down from the week prior because of the holiday and 7,887 head above the same week last year.
Jun 24 Hogs are at $94.075, up $0.100,
Jul 24 Hogs are at $96.950, up $0.000
Aug 24 Hogs is at $96.275, up $0.025,
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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