Lean Hogs December 2012 (HEZ12)

Lean Hogs are trading mixed with the June contract lower and other months higher. The Cutout has lost $2.94 so far this week with pork demand falling short of supply. Loins and Ribs typically peak out this week this time of year and make up a large portion of the demand market. Loins then typically rally into August once the demand picks back up with Ribs rallying into early July. Pork trading so far today is very slow with light to moderate demand and offerings. Fresh retail cuts are not fully established. The CME lean hog index for 5/22 was $84.89, up $0.69 from the day before. Cash hogs are coming in weaker this morning.

Jun 12 Hogs are at $84.150, down $0.275,
Jul 12 Hogs are at $86.150, up $0.600
Aug 12 Hogs are at $86.575, up $0.625