Lean hog prices are down $1.80 to $3.32 so far for Tuesday. Tuesday is the first trade day of the week following Memorial Day, but also the final trade day of the month of May. Through the month, as of midday, July lean hog prices have dropped $1.60. USDA’s National Average Base Hog price was 55 cents stronger to $109.09. CME’s 5/25 Lean Hog Index was 53 cents higher to $104.40.
Pork cutout futures are trading $1.77 to $3.40 in the red. USDA’s National Pork Carcass Cutout value was $3.52 higher this morning to $109.68. USDA estimated last week’s FI hog slaughter as 2.351m head through Saturday. That is down 63k head wk/wk and 27k head below the same week last year. YTD slaughter trails last year’s pace by 4.8% with 51.026m head.
Jun 22 Hogs are at $108.475, down $1.925,
Jul 22 Hogs are at $108.525, down $3.200
Jun 22 Pork Cutout is at $112.725, down $1.775,
