Hogs Falling at Midday
Lean hogs are resuming their weakness as we start June, with contracts down 50 to 75 cents at midday. USDA’s National Average Base Hog negotiated price was not reported in the Monday morning report, with the 5-day rolling average at $87.47. The CME Lean Hog Index was up 49 cents on May 30 at $91.49.
USDA’s National Pork Carcass Cutout Value was back down 12 cents the Monday AM print at $103.13. The butt ($0.48) and belly ($8.72) were the only 2 primals reported higher. USDA estimated federally inspected hog slaughter at 2.155 million head last week through Saturday. That is down from the week prior because of the holiday and 130,062 head above the same week last year.
Jun 24 Hogs closed at $93.850, down $0.500,
Jul 24 Hogs closed at $96.575, down $0.550
Aug 24 Hogs closed at $95.750, down $0.750,
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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