Lean hog futures were down 30 cents to $1.12 on the Tuesday session. The CME Lean Hog Index was down 23 cents at $91.52 on June 7. USDA showed the National Base Hog weighted average price at $87.50 on Tuesday afternoon, down $1.08 from the day prior.
USDA’s Estimated Primal Cutout Value held the strength that was shown in the AM report, as it was up $3.23 in the PM report at $103.65. The picnic, butt, and hams were the primals in negative territory, as the volatile belly quote was up $16.08. USDA estimated Tuesday FI hog slaughter at 482,000 head, bringing the week to date total to 945,000 head. That is down 19,000 head from a week ago but up 20,941 from a year ago.
Jun 24 Hogs closed at $91.950, down $0.300,
Jul 24 Hogs closed at $92.275, down $0.625
Aug 24 Hogs closed at $89.100, down $1.125,
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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