Cute pink pig looking in pasture
Front month lean hog futures are bouncing back with $2.25 to $3.15 gains through the midweek midday. USDA’s National Average Base Hog price was $104.24 in the AM report, with no comparison to yesterday’s AM price. CME’s Lean Hog Index was down by another 44 cents to $101.15.
Pork cutout futures are also bouncing back with $1.05 to $2.60 gains. USDA’s National Pork Carcass Cutout Value for Wednesday morning was 80 cents weaker to $104.76. USDA estimated FI hog slaughter at 480k head for Tuesday, for a 962k head WTD total. That compares to 945k head last week, and outpaces the same week last year by 960k head.
Jun 22 Hogs are at $104.925, up $2.725,
Jul 22 Hogs are at $106.575, up $2.725
Jun 22 Pork Cutout is at $111.600, up $2.600,
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