Hogs Posting Friday Strength at Midday
Lean hog futures are trading with contracts 50 to 60 cent gains in the front months so far on Friday, with thinly trade May down a dime. USDA’s national average base hog negotiated price was reported at $9478 on Friday morning, up $0.14. The CME Lean Hog Index was back down 9 cents on May 7, at $90.07.
Friday morning’s FOB plant pork cutout value was up $3.44/cwt on a carcass basis, at $97.94. The belly was the only primal that was reported lower. Federally inspected hog slaughter from USDA was estimated 484,000 head for Thursday, with a weekly total at 1.922 million head. That was down 16,000 head from the previous week and 15,290 head above the same week last year.
May 25 Hogs are at $90.550, down $0.100,
Jun 25 Hogs are at $97.750, up $0.575
Jul 25 Hogs is at $100.750, up $0.500,
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.