Lean Hogs Face Midweek Market

The summer month contracts are holding above the $100 mark – which for August had only been broken once since Jan. The deferred contracts are setting at WTD losses of 40c to $1.07, while July is at a $1.15 gain from last week’s settle into the midweek session. Lean hogs were trading mixed through most of Tuesday, with relative firmness in the June and July contracts. June stayed 45 cents in the black for the bell, as July turned red for a nickel loss on the day. The other front months went home 45 cents to $1.17 weaker. USDA’s National Average Base Hog price for Tuesday $6.09 higher to $119.25. The CME Lean Hog Index for 6/9 was down 12 cents to $107.19.  

Pork cutout futures ended the Tuesday trade with a 12 cent gain in the June contract and $0.42 to $1.20 losses in the other front months. USDA’s National Pork Carcass Cutout Value was $108.67 in the PM report after a $2.71 drop. USDA estimated FI hog slaughter for Tuesday at 474k head. The 934k killed WTD trails last week by 10k head. 

Jun 22 Hogs  closed at $108.450, up $0.450,

Jul 22 Hogs  closed at $106.625, down $0.050

Jun 22 Pork Cutout  closed at $109.300, up $0.425,