So far through Tuesday, front month lean hog futures are trading mostly 7 to 32 cents higher. June contracts are down by 77 cents, with Feb 17 cents in the red. USDA’s National Average Base Hog price was $116.34 on Tuesday morning, up by $4.76. The CME Lean Hog Index was $107.34 on 6/3, up by $1.29.
Pork cutout futures are also mixed at midday, trading within 30 cents of UNCH in the nearbys, and a $1.17 loss in the June contract. USDA’s National Pork Carcass Cutout for Tuesday morning was $6.88 stronger to $116.26. USDA estimated 475k head of hogs were slaughtered on Monday under federal inspection. That is not comparable to Memorial Day’s kill last week, but is 4k head lighter yr/yr.
Jun 22 Hogs are at $108.575, down $0.650,
Jul 22 Hogs are at $109.325, up $0.350
Jun 22 Pork Cutout is at $111.375, down $1.175,
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