Lean hogs continue climbing higher as pork demand is set to strengthen heading into the summer, while supply remains tight.
“You’re drawing down against current production, you don’t have any cushion in the cold storage and we’re going to get into the time period when we don’t have as large of a slaughter,” said Brugler.
CME June lean hogs gained 1.125 cents to 106.850 cents per pound.
The CME’s lean hog index, a two-day weighted average of cash prices, climbed to $106.51 per cwt, its highest since October 2014.
