Hogs Weaker on Monday, Despite Pork Strength
Lean hogs were down 5 cents to $1.40 across most contracts. USDA’s National Average Base Hog negotiated price was up $1.37 on Monday afternoon at $89.78. The CME Lean Hog Index was up just 4 cents on May 9 at $91.32.
USDA’s National Pork Carcass Cutout Value was up another $2.67 in the Monday PM report at $102.44. The belly ($8.72) led the way higher, with just the picnic reported lower. USDA estimated Monday’s federally inspected hog slaughter at 461,000 head for Monday. That is 20,000 head below Monday and 2,769 head less than the same Monday last year.
May 24 Hogs closed at $91.450, down $0.275,
Jun 24 Hogs closed at $97.475, down $0.900
Jul 24 Hogs closed at $100.050, down $1.400,
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.
