Lean hogs are a bright spot is an overall weak ag commodity space on Thursday. Contracts are up 50 cents to $1 at midday. USDA’s National Average Base Hog negotiated price was at $87.66 in the Thursday AM report, up 2 cents from the day prior. The CME Lean Hog Index was down another 57 cents on May 28 at $90.79.
USDA’s National Pork Carcass Cutout Value was back up 49 cents the Thursday morning print at $102.23. The loin and belly carried the load, with gains of $3.11 and $4.52, as all other primals were reported lower. USDA estimated federally inspected hog slaughter 488,000 head for Wednesday, with the weekly total at 965,000. That is down from the week prior because of the holiday and 7,605 head above the same week last year.
Jun 24 Hogs are at $94.675, up $0.900,
Jul 24 Hogs are at $97.250, up $0.925
Aug 24 Hogs is at $96.400, up $0.500,
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