Lean hog futures are up a tick to $1.22 in the front months, with deferred contracts down 32 to 50 cents. The USDA National Base Hog price was reported at $89.93 on Tuesday morning. 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 AM Pork Cutout Value back up 2 cents at $95.43. The loin, picnic, and ham primals were reported higher, with the other three lower. 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 are at $89.375, up $0.175,
Aug 24 Hogs are at $89.400, up $1.225
Oct 24 Hogs is at $74.125, up $0.025,
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