Lean hogs were lower across most contracts on Thursday, with losses of 12 to 60 cents. Nearby August was up 52 cents. USDA’s National Average Base Hog fell back by $10.86 after jumping $13.01 higher yesterday. The PM report had a $119.59 quote. The 7/26 CME Lean Hog Index was $119.73 up by 25 cents.
Pork cutout futures were also weaker on Thursday with August down 20 cents. USDA’s National Pork Carcass Cutout Value for Thursday afternoon was $2 stronger to $128.79. FI hog slaughter was estimated at 1.845m head for the week through Thursday. That is up from 1.809m head last week but under the 1.876m head during the same week last year.
Aug 22 Hogs closed at $119.125, up $0.525,
Oct 22 Hogs closed at $96.325, down $0.125
Aug 22 Pork Cutout closed at $124.550, down $0.200,
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