Lean Hogs

Lean hog futures are mixed at midday, with nearby June up 45 cents and back months lower. The CME Lean Hog Index was up 91 cents from the previous day to $66.14 on May 15 and continues to rise seasonally. The USDA pork carcass cutout value was up $1.32 at $75.71 on Thursday morning. The loin was up $4.22, with the picnic $2.41 higher and belly up $2.20. The national base hog weighted average price was 30 cents higher at $64.80 this morning. The USDA estimated FI hog slaughter at 1.38 million head through Wednesday. That is 6,000 head more than last week and 60,000 above the same week in 2017. The USDA reported 21,934 MT in pork export sales during the week of 5/10. That was 40.4% larger than last year, and a 32.7% jump from a week ago.

Jun 18 Hogs are at $76.350, up $0.450,

Jul 18 Hogs are at $78.000, down $0.725

Aug 18 Hogs are at $77.400, down $0.450

Market Commentary provided by:

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