Lean hog futures are 75 to 85 cents higher in the front months on Tuesday. USDA’s national base hog price was not reported on Tuesday mornind due to packer submission issues. The CME Lean Hog Index was back down 27 cents on May 1 at $91.03.
Monthly trade data from Census converted to a carcass basis showed pork exports at 678.14 million lbs. That was the 3rd largest on record for March and up 18.1% from February.
USDA’s pork carcass cutout value from the Tuesday AM report was down 89 cents at $98.25 per cwt. The loin and butt primals were the only reported lower. USDA estimated federally inspected hog slaughter for Monday at 490,000 head. That is up 6,000 head from the previous week and 9,118 head above the same week last year.
May 26 Hogs are at $92.375, up $0.750,
Jun 26 Hogs are at $100.550, up $0.800
Jul 26 Hogs are at $102.675, up $0.850,
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.
