Lean Hogs

Lean hog futures were one of the bright spots in the commodity complex on Thursday, with most contracts steady to 55 cents higher. The CME Lean Hog Index was up 34 cents from the previous day to $69.03 on May 22. The USDA pork carcass cutout value was down 70 cents at $74.11 on Thursday afternoon. The rib was the main cause, down $20.50 in one day. The national base hog weighted average price was a penny lower at $64.78 in the afternoon. The USDA estimated weekly FI hog slaughter at 1.833 million head through Thursday. That is up 7,000 head from last week and 63,000 above the same week in 2017. Shipments of pork were tallied at 25,064 MT in the week of 5/17, 14.6% above the same week in 2017. Pork export commitments are not 4.2% larger than last year at this time.

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