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Hogs Firming at Midday
Lean hogs are trading firmer on Friday, as nearby contracts are within a nickel of unch. USDA’s National Average Base Hog negotiated price was reported at $86.88 in the Friday AM report. The CME Lean Hog Index was down another 5 cents on May 22 at $91.77.
USDA’s National Pork Carcass Cutout Value was back up 78 cents in the Friday AM print at $99.47. The belly was the only primal reported lower, dragging down $7.22. 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 are at $94.500, down $0.025,
Jul 24 Hogs are at $97.525, up $0.050
Aug 24 Hogs is at $97.075, up $0.050,
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.