Lean hogs are in freefall mode on Tuesday, with contracts down 90 cents to $2.15. USDA’s National Average Base Hog negotiated price was not reported again on Tuesday morning, with the PM report at $88.30 in the Monday afternoon print. The CME Lean Hog Index was up 24 cents on May 31 at $91.73.
USDA’s National Pork Carcass Cutout Value was back up $1.26 with the Tuesday morning report at $102.69. All pork primals were reported higher, with exception to the belly, up $2.38. USDA estimated federally inspected hog slaughter at 483,000 head on Monday. That was well above last week because of the holiday and 18,294 head above the same Monday last year.
Jun 24 Hogs are at $92.750, down $0.900,
Jul 24 Hogs are at $94.125, down $2.150
Aug 24 Hogs is at $93.575, down $2.050,
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