Lean Hogs Working Red

Midday hog futures are trading 25 to 65 cents lower in the deferreds with August down by $1.10 at midday. USDA’s National Average Base Hog price for Monday morning was $4.51 weaker to $114.07. The 7/7 CME Lean Hog Index was $110.97 up by 81 cents.  

Pork cutout futures are also trading red, with triple digit midday losses pas the July contract. USDA’s National Pork Carcass Cutout Value was reported at $112.89 on Monday morning. That is down by $1.78. CME’s Fresh Bacon Index for the week of 7/8 was $3.86 weaker to $195.12. USDA estimated 1.983m head of hogs were slaughtered this week for a YTD total of 64.358m head through Saturday. That compares to 1.916m head during the same week last year and a flat 67m head for 2021’s YTD. 

Jul 22 Hogs  are at $113.000, up $0.150,

Aug 22 Hogs  are at $107.800, down $1.375

Aug 22 Pork Cutout  is at $111.300, down $1.425,