Lean hog futures are posting another round of losses on Monday, with midday losses of $1.35 to $1.80. The USDA National Base Hog price reported at $86.47 on Monday morning, up a penny from the previous day. The CME Lean Hog Index was down another 23 cents at $90.32 on June 20. Typical seasonal strength has not been there this spring.
USDA’s Pork Cutout Value was back lower in the Monday morning report, down $1.90 to $97.13. The picnic, ham, and belly were the only primals reported higher. USDA estimated last week’s FI hog slaughter through Saturday at 2.419 million head. That is up 39,000 head from a week ago and 50,856 head higher vs. the same week a year ago.
Jul 24 Hogs are at $90.700, down $1.350,
Aug 24 Hogs are at $87.525, down $1.800
Oct 24 Hogs is at $74.700, down $1.625,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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