The lean hog futures saw a $1.50 rally in the August contract as it took over as the new lead month. The other futures were 17 to 85 cents weaker on the day. USDA reported the National Average Base Hog price $2.25 higher to $104.25. The Merc had the lean hog index as $101.60 for 7/14, another 57 cents higher.Â
Pork cutout futures closed with 20 to 75 cent losses in most of the front months, but a 57 cent gain in the August. The Pork Carcass Cutout Value was 3 cents weaker to $112.68 on Tuesday afternoon. USDA estimated FI hog slaughter at 472k head for Tuesday for a weekly total of 921,000 head. That compares to 460k head from last week and 450k during the same week last year.Â
Aug 23 Hogs  closed at $96.275, up $1.500,
Oct 23 Hogs  closed at $81.475, down $0.850
Aug 23 Pork Cutout  closed at $103.900, up $0.400,
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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