Hogs Falling into Weekend
Lean hogs are slipping lower in the to weekend, with contracts down 25 cents to $2, led by the nearbys. USDA’s National Average Base Hog negotiated price was back down 58 cents on Friday morning at 88.78. The CME Lean Hog Index was up another 37 cents on May 15 at $92.13.
USDA’s National Pork Carcass Cutout Value was 22 cents higher in the Friday morning report at $100.49. The ham and loin were reported lower in the midday print, with the belly leading the way, up $2.81. 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 are at $96.325, down $2.00,
Jul 24 Hogs are at $99.875, down $1.75
Aug 24 Hogs is at $99.20, down $1.60,
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.
