Hogs Continues Lower as Pork Cutout Drags

Cute pink pig looking in pasture

Lean hogs closed Thursday with losses of 7 to 87 cents across the board. USDA’s National Average Base Hog negotiated price was up 44 cents in the Thursday afternoon report at $88.27. The CME Lean Hog Index was down 19 cents on May 21 at $91.82.

USDA data from this morning showed 26,255 MT of pork sold for export in the week of 5/16, a 24.4% increase on the week. Shipments were at 34,282 MT, up 3.4% from last week.

USDA’s National Pork Carcass Cutout Value was down another $1.38 in the Thursday PM print at $98.69. The picnic ($1.70), ham (-$1.90), rib ($1.59) and belly (-$5.01) were all reported lower. USDA estimated Thursday’s federally inspected hog slaughter at 486,000 head, with the WTD total at 1.917 million head. That is up 17,000 head from the week prior and 19,973 head above the same week last year. 

Jun 24 Hogs  closed at $94.525, down $0.875,

Jul 24 Hogs  closed at $97.475, down $0.650

Aug 24 Hogs  closed at $97.025, down $0.525,

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.