Hogs Mixed, with Cutout Staying Firm
Lean hogs are trading mixed across the board on Friday, as contracts are mostly 30 ti 50 cents higher and August down a nickel. The USDA National Base Hog price was reported at $82.13 on Friday morning. The CME Lean Hog Index was $91.39 on July 24, up 62 cents from the previous day.
Pork stocks in cold storage at the end of June totaled 470.9 million lbs. That was a 3.26% decline from the same month last year and 2.39% below the end of May USDA figure.
USDA’s FOB plant pork cutout values continue to show a firmer tone, with the Friday morning average carcass quote up 27 cents at $106.22 per cwt. That gain came from the belly, picnic, and ham, as the other three were lower. USDA estimated Thursday’s FI hog slaughter at 475,000 head, with the WTD total at 1.888 million head. That is down 21,000 head from last week and 32,785 head above the year ago.
Aug 24 Hogs are at $93.725, down $0.050,
Oct 24 Hogs are at $78.300, up $0.500
Dec 24 Hogs is at $70.275, up $0.325,
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.