Lean hogs were a bright spot for commodity bulls on Thursday, with contracts up 20 to 70 cents. USDA’s National Average Base Hog negotiated price was at $87.36 in the Thursday PM report, down $1.69 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 21 cents the Thursday afternoon print at $101.95. The loin and belly carried the load, with gains of $2.99 and $6.43. USDA estimated federally inspected hog slaughter 487,000 head for Thursday, with the weekly total at 1.447. That is down from the week prior because of the holiday and 7,887 head above the same week last year.
Jun 24 Hogs closed at $93.975, up $0.200,
Jul 24 Hogs closed at $96.950, up $0.625
Aug 24 Hogs closed at $96.250, up $0.350,
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