Hogs Steady at Midday
Lean hogs are trading with front months 17 cents higher to 32 cents lower on Monday. USDA’s National Average Base Hog negotiated price not reported on Monday morning due to light volume, with the 5-day rolling average at $89. The CME Lean Hog Index was up another 16 cents on May 16 at $92.29.
USDA’s National Pork Carcass Cutout Value was $1.63 higher in the Monday AM report at $102.48. All primals were reported higher, with the rib leading the way, up $5.35. USDA estimated Friday’s federally inspected hog slaughter at 468,000 head, taking the week to date total to 2.404 million head including Saturday. That is 25,000 head above last week but 3,025 head below the same week last year.
Jun 24 Hogs are at $96.675, up $0.175,
Jul 24 Hogs are at $99.950, down $0.100
Aug 24 Hogs is at $99.150, down $0.325,
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.
