Lean hog futures are mixed, with front month July down 35 cents and other contracts up 60 to 77 cents. USDA’s national base hog price was reported at $97.47 on Tuesday morning. The CME Lean Hog Index was back down 53 cents on June 19 at $91.64.
Friday afternoon’s Commitment of Traders report indicated a total of 7,258 contracts added to the new managed money net short in lean hogs in the week of 6/16. That net short was 20,959 contracts on Tuesday.
USDA’s pork carcass cutout value from the Tuesday AM report was down 54 cents at $95.54 per cwt. The loin, rib, and belly primals were reported lower. USDA estimated federally inspected hog slaughter for Monday at 468,000 head. That was down 10,000 head from last Monday but 11,116 head above the same Monday last year.
Jul 26 Hogs are at $94.300, down $0.350,
Aug 26 Hogs are at $97.500, up $0.775
Oct 26 Hogs are at $81.475, up $0.625,
