Pork Commentary, April 23, 2018
Jim Long, President-CEO, Genesus Inc.
Last week the US hog market showed some rebound, 53-54% lean hogs, going from 51.95¢ to 56.13¢.
A year ago, 53-54% lean hogs were 59.99¢. Market seems to be next to terrible (losses $30 per head) But put in context of year ago prices and they don´t look as bad. A year ago, summer hog prices went well into the 80´s.
Of course, most of the market is expecting a price rebound. May lean hog futures closed Friday at 69.950 ¢ and June 77.550 ¢. That would be an increase of well over $40 per Hog the next few weeks.