Lean hog futures are showing mixed results at midday, with June contracts gaining 10 cents while other months decline by as much as 75 cents. The USDA reported a national base hog price of $93.57, and the CME Lean Hog Index rose by 45 cents to $91.07 as of May 20. With the CME closed for Memorial Day, trading will resume normally on Tuesday.
The USDA’s pork carcass cutout value increased by $1 to $96.64 per cwt, although only the picnic and ham primals saw declines. Weekly hog slaughter numbers reflect a slight increase, with Thursday’s figure at 478,000 head, bringing the week-to-date total to 1.899 million—up from the previous week but down compared to last year.
Market professionals should note the mixed futures performance amid fluctuating slaughter rates and prices, indicating potential volatility in the hog market as traders assess supply dynamics and consumer demand post-holiday.
Source: nasdaq.com