Lean hog futures are posting losses after gapping lower out of the holiday. Contracts are down $1.55 to 2.10 at midday. The CME Lean Hog Index was up 13 cents at $90.72 on June 18. Seasonal strength has been muted this spring. The USDA National Base Hog price reported at $87.27 on Thursday morning, up 27 cents from the previous day.
USDA’s Pork Cutout Value was lower in the Tuesday AM print, down $1.27 cents to $96.43. The ham and belly were the only primals reported higher. USDA estimated Wednesday’s FI hog slaughter at 483,000 head, with the 3-day total this week at 1.424. That is up 9,000 head from a week ago and 48,177 head higher vs. the same week a year ago.
Jul 24 Hogs are at $92.225, down $1.550,
Aug 24 Hogs are at $89.500, down $2.075
Oct 24 Hogs is at $76.475, down $1.925,
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