Turnaround Tuesday action has the lean hog futures market 17 to 57 cents in the black so far. USDA’s National Average Base Hog price for the AM was a sharp $7.70 higher to $121.77. The 7/7 CME Lean Hog Index was $110.97 up by 81 cents.
Pork cutout futures went home 60 cents to $1.62 in the red. USDA’s National Pork Carcass Cutout Value was $1.50 higher on Tuesday morning to $116.57. USDA estimated FI hog slaughter at 445k head, that is down 9k head yr/yr. 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 $113.550, up $0.400,
Aug 22 Hogs are at $108.600, up $0.225
Aug 22 Pork Cutout is at $113.300, up $1.175,
/Cybersecurity%20by%20AIBooth%20via%20Shutterstock.jpg)
