
Lean hogs staged an afternoon recovery that left June nearly $1 off the low and turned August and October contracts higher for the day. The deferred contracts stayed 12 to 30 cents weaker by the Tuesday close, and the summer months closed triple digits weaker. USDA’s National Average Afternoon Base Hog price was $83.83 on Tuesday, up by $7.31. The 5/19 CME Lean Hog Index was $79.57, up by 34 cents.
Pork cutout futures closed Tuesday with triple digit losses of as much as 2% in the summer months, while the deferred contracts were 7 to 12 cents weaker. USDA’s National Pork Carcass Cutout Value was down $1.27 on Tuesday to $83.50. Federally inspected hog slaughter was estimated at 481k head on Tuesday for a weekly total of 954k. That is 20,000 head more than last week’s pace and is 16k head more than the same week last year.
Jun 23 Hogs closed at $80.675, down $1.150,
Jul 23 Hogs closed at $80.975, down $1.175
Jun 23 Pork Cutout closed at $84.550, down $1.250,
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.