Hogs Close with Triple Digit Losses
Related Stocks
 HEN21 - Lean Hogs

Front month lean hog futures closed the last trade day of the week with triple digit losses, which for June contracts pushed prices to $6 below the 5/6 high. May hog futures expired at $111.15 – which is $2.42 above where June went home. USDA’s National Average Afternoon Base Hog price for Friday was $112.25 after sliding another $1.20. The WCB base price was $117.53 in the PM update. The May 12th CME Lean Hog Index was down by a penny at $110.94.  

CFTC data showed managed money funds closed out 1,435 lean hog contracts through the week that ended 5/11. Long liquidation was slightly higher, reducing spec funds’ net long by 225 to 71,352. 

Pork cutout futures closed Friday’s round of trading with losses of 42 to 97 cents. USDA’s National Pork Carcass Cutout Value was $115.70 in the PM report, down by 49 cents. The afternoon report showed large swings in the primals on decent load volume, as hams were the firmest despite a $4.17 drop. USDA estimates the week’s FI hog slaughter at 2.395 million head through Saturday. That is down 13,000 head from last week’s total. The YTD running total is estimated at 48.851 million head. 

China’s Ag Ministry stated the hog herd had grown by 1.1% through April to 23% above 2020. Their data said the herd has recovered 97.6% from Pre ASF levels.

Jun 21 Hogs  closed at $108.725, down $1.375,

Jul 21 Hogs  closed at $109.000, down $1.100

Jun 21 Pork Cutout  closed at $115.250, down $0.425,

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353
E-mail: alanb@bruglermktg.com
Web: http://bruglermarketing.com

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.