Hogs Leak Lower into Weekend
Lean hogs were hanging around UNCH at midday, but tipped lower into the close. Changes for the day were 25 lower to 2 cents higher. USDA’s National Average Base Hog negotiated price was reported at $86.84 in the Friday PM report, a drop of $1.63 on the week. The CME Lean Hog Index was down another 5 cents on May 22 at $91.77.
The monthly Cold Storage report showed some building of pork stocks in during April, up 1.19% on the month at 501.279 million lbs. That was down 11.66% from a year ago, compared to the 13.26% yr/yr drop at the end of March.
USDA’s National Pork Carcass Cutout Value was back up 45 cents in the Friday afternoon print at $99.14. The belly was down $2.64, with the loin 20 cents lower and rib down 45 cents. All other primals were reported higher. USDA estimated Friday’s federally inspected hog slaughter at 451,000 head, with the WTD total at 2.373 million head through Saturday. That is down 31,000 head from the week prior but 17,942 head above the same week last year.
Jun 24 Hogs closed at $94.275, down $0.250,
Jul 24 Hogs closed at $97.225, down $0.250
Aug 24 Hogs closed at $96.900, down $0.125,
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.
