Nearby Hogs Flashed late Session Strength

 

Alan Brugler, Barchart

May 10, 2022

 

The thinly traded May contract and the June lean hog contract rallied into the session’s close to end the day 20 to 7 cents higher. The back months stayed down by triple digits on Tuesday, with July and August closing near their day’s lows. The National Average Base Hog price for Tuesday was up by $2.27 to $109.10. CME’s Lean Hog Index for 5/6 was back up by 18 cents to $101.09.

 

Pork cutout futures went home on Tuesday with $0.55 to $1.27 losses. USDA’s National Pork Carcass Cutout Value was $4.20 weaker on Tuesday afternoon. FI hog slaughter for Tuesday was estimated at 480,000 head for a running total of 941k head for the week. That compares to 962k head last week and 958,000 from the same week last year.

 

more, including links

https://www.barchart.com/story/news/8303839/nearby-hogs-flashed-late-session-strength