Hogs Close Friday on a Mixed Note

Pig grazing in field

Lean hog futures were mixed at the Friday close, with contracts anywhere from 20 cents higher to 7 cents lower, as July, up 90 cents, was an exception. The USDA National Base Hog price reported at $86.04 on Friday afternoon, down $1.17 from the previous day. The CME Lean Hog Index was back down 17 cents at $90.55 on June 19. Typical seasonal strength has been muted or just downright missing this spring.

All pork export bookings totaled 21,448 MT during the week ending on June 13, a 5-week low. Actual shipments were tallied at 28,969 MT, dropping to the second lowest this MY.

USDA’s Pork Cutout Value was back higher in the Friday PM print, up $1.18 to $99.03. The rib and belly were the only primals reported lower. The loin (+$5.06) and butt (+$6.69) were the leaders to the upside, with the ham and picnic following. USDA estimated this week’s FI hog slaughter through Saturday at 2.419 million head. That is up 39,000 head from a week ago and 50,856 head higher vs. the same week a year ago.

Jul 24 Hogs  closed at $92.050, up $0.900,

Aug 24 Hogs  closed at $89.325, up $0.200

Oct 24 Hogs  closed at $76.325, down $0.075,

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.