Lean hog futures are down 7 cents to $1 in the front months on Tuesday, with other contracts up 7 to 60 cents. The CME Lean Hog Index was down 71 cents at $90.73 on June 14. Seasonal strength has been muted this spring. The USDA National Base Hog price reported at $89.90 on Tuesday morning.
USDA’s Pork Cutout Value was slightly higher in the Tuesday AM print, up just 4 cents to $98.98. The loin and picnic primals were quoted lower, with the belly leading things higher, up $2.52. USDA estimated Monday’s FI hog slaughter at 459,000 head. That is down 4,000 head from a week ago but up 2,307 head from the same Monday a year ago.
Jul 24 Hogs are at $94.425, down $0.950,
Aug 24 Hogs are at $91.450, down $0.425
Oct 24 Hogs is at $78.150, down $0.075,
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