Pork Bellies Futures PricesWednesday, May 23rd, 2012

Lean Hogs were down $1.40 in the nearby and higher from October on out. The CME lean hog index for 5/18 was $83.23, up $1.21 from the day before. A Bearish Cold Storage report showed pork supplies in April were the largest since August 2009. Frozen pork stocks on April 30 were up 20% from last year and up 8% from last month. The WCB average base price for cash hogs this morning is $1.07 higher at $84.26. The national average base price is $81.30, $1.70 lower. Wholesale prices dropped sharply, off $2.09 with the rib primal taking the biggest hit. Ham prices were under pressure from the big jump in Cold Storage inventory.

Jun 12 Hogs closed at $84.425, down $1.400,
Jul 12 Hogs closed at $85.550, down $0.600
Aug 12 Hogs closed at $85.950, down $0.900