Hogs Rallying with Cash and Cutout Strength
Lean hog futures are rallying on Friday, with contracts up $1.25 to $2.07 at midday. USDA’s national average base hog negotiated price was reported at $100.55 on Friday morning, up 93 cents. The CME Lean Hog Index was up 82 cents on June 3, at $96.57.
USDA’s FOB plant pork cutout value from the Thursday PM report was $112.85, back up $4.74. All Primals were reported higher. Federally inspected hog slaughter on Thursday was estimated at 480,000 head by the USDA, taking the weekly total to 1.903 head. That is down 4,000 head from the same week last year.
Jun 25 Hogs are at $102.100, up $1.250,
Jul 25 Hogs are at $106.875, up $2.075
Aug 25 Hogs is at $108.775, up $1.725,
On the date of publication, Austin Schroeder 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.