Lean hog futures closed out July’s initial trade session with losses of 37 cents to $1.62 on Monday. A few deferred contracts were up 15 to 25 cents. The USDA National Base Hog price was down 43 cents on Monday afternoon at $88.74. The CME Lean Hog Index was down another 28 cents at $89.47 on June 27.
USDA reported the Monday PM Pork Cutout Value back down $2.48 at $95.41. All primals were reported lower, with the belly leading the way, down $6.41. USDA estimated Monday’s FI hog slaughter at 477,000 head. That is up 14,000 head from a week ago and well above the same Monday last year.
Jul 24 Hogs closed at $89.200, down $0.375,
Aug 24 Hogs closed at $88.175, down $1.325
Oct 24 Hogs closed at $74.100, down $1.625,
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