Lean hog futures were up a tick to $1.60 in the nearbys on Tuesday, with other contracts down 20 to 67 cents. The USDA National Base Hog price was reported at $91.65 on Tuesday afternoon, up $2.91 from the previous day. The CME Lean Hog Index with its two-day lag was down another 30 cents at $89.17 on June 28.
USDA reported the Tuesday PM Pork Cutout Value down $1.09 at $94.32. The picnic and belly primals were reported higher, with the other 4 seeing losses of $2.10 to $4.46. USDA estimated Tuesday’s FI hog slaughter at 471,000 head, taking the weekly total to 948,000 head. That is up 4,000 head from a week ago and well above the same week last year as the holiday fell earlier in the week.
Jul 24 Hogs closed at $89.225, up $0.025,
Aug 24 Hogs closed at $89.775, up $1.600
Oct 24 Hogs closed at $74.275, up $0.175,
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