Lean hogs saw some gains to round up the Tuesday session, up 7 to 87 cents across the board. USDA’s National Average Base Hog negotiated price was up $1.05 in the Tuesday afternoon print at $90.83. The CME Lean Hog Index was down a dime on May 10 at $91.22.
USDA’s National Pork Carcass Cutout Value was back down 93 cents in the Tuesday PM report at $101.51. The belly w down $4.85 to lead to the downside, with the loin and butt also reported lower. USDA estimated Tuesday’s federally inspected hog slaughter at 480,000 head, taking the week to date total to 941,000 head. That is 18,000 head below last week but 5,292 head above the same week last year.
May 24 Hogs closed at $91.825, up $0.375,
Jun 24 Hogs closed at $98.325, up $0.850
Jul 24 Hogs closed at $100.925, up $0.875,
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 Disclosure Policy here.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
