Hogs Pull Back from Highs, Still Close with Gains
Lean hogs faded off of some of the midday strength, but still found solid ground to post 5 to 87 cent higher trade. USDA’s National Average Base Hog negotiated price was up 60 cents on Thursday afternoon at 89.33. The CME Lean Hog Index was back up 47 cents on May 14 at $91.76.
Pork sales in the week of May 9 totaled 21,105 MT according to FAS Export Sales data. That was the lowest total since last July. Export shipments were pegged at 33,160 MT for that same week, an 8-week low.
USDA’s National Pork Carcass Cutout Value was back down $1.43 in the Thursday PM print at $100.27. All primals were reported lower, with the ham leading the way, down $3.55 USDA estimated Thursday’s federally inspected hog slaughter at 479,000 head, taking the week to date total to 1.9 million head. That is 8,000 head below last week but 36,981 head above the same week last year.
Jun 24 Hogs closed at $98.375, up $0.875,
Jul 24 Hogs closed at $101.625, up $0.750
Aug 24 Hogs closed at $100.800, up $0.775,
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.
