Hog Prices Gaining Triple Digits

Front month lean hog futures are working $0.15 to $1.90 in the black. The July contract is again leading the way. USDA’s National Average Base Hog price for Friday morning dropped by $8.82 to $85.25. The 6/5 CME Lean Hog Index was 65 cents higher to $81.86.

USDA made little changes to their pork production outlook in the monthly WASDE. Q2 was trimmed by 5m lbs to 6.64 billion, which left the full year output at 27.376 billion. 

Pork cutout futures are mixed at midday with weakness for June and August, but a $1.77 gain in July. USDA’s National Pork Carcass Cutout Value was $3.74 higher to $89.42. USDA estimated the week’s FI hog slaughter at 1.857m head through Thursday. That compares to 1.9m head during the same week last year.

Jun 23 Hogs  are at $87.625, down $0.050,

Jul 23 Hogs  are at $88.625, up $1.425

Jun 23 Pork Cutout  is at $88.200, down $0.500,

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.