Lean hog futures were up 20 to 60 cents on Wednesday. USDA’s national base hog price was reported at $110.51 on Wednesday afternoon, down 98 cents from the day prior. The CME Lean Hog Index was up 89 cents at $110.44 on June 23.
Ahead of the Thursday Hogs & Pigs report from NASS, analysts are looking for all hogs on June 1 to be down 0.4% from a year ago. Market hogs are seen down 0.4%, with hogs kept for breeding steady.
Cold Storage data from NASS showed pork stocks on May 31 at 450.983 million lbs. that was a 21 year low for the month and down 1.14% from the end of April.
USDA’s FOB plant pork cutout value from Wednesday afternoon was back up 25 cents at $121.81. The ham and belly were the only primals reported higher. Federally inspected hog slaughter for Wednesday was estimated at 478,000 head by USDA, with the weekly total at 1.414 million head. That is down 4,000 head from last week but 5,838 head below the same week last year.
Jul 25 Hogs closed at $112.825, up $0.600,
Aug 25 Hogs closed at $111.225, up $0.275
Oct 25 Hogs closed at $95.725, up $0.250,
