Lean hog futures are down 5 to 52 cents on Wednesday, with July up 45 cents. The USDA National Base Hog price was reported at $90.20 on Wednesday morning, up 27 cents from the previous day. Futures are now below the cash. The CME Lean Hog Index with back up 14 cents at $89.31 on July 1.
May pork exports total 584.7 million lbs according to converted Census data. That was a drop of 5.4% from last year and 10.9% below April.
USDA reported the Wednesday AM Pork Cutout Value down 57 cents at $93.75. The butt was weighing things down with losses of $9.81, as the picnic, belly, and rib were all reported higher. USDA estimated Tuesday’s FI hog slaughter at 471,000 head, taking the weekly total to 948,000 head. That is up 4,000 head from a week ago and well above the same week last year as the holiday fell earlier in the week.
Jul 24 Hogs are at $89.675, up $0.450,
Aug 24 Hogs are at $89.725, down $0.050
Oct 24 Hogs is at $74.075, down $0.200,
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