Lean hog futures were down 30 cents to $1.77 in the nearbys, with some deferred contracts December and beyond, up a tick to 30 cents. Front months were seeing some long liquidation, with open interest down 6,990 contracts in July. USDA’s national base hog price was reported at $97.57 on Tuesday afternoon, up 32 cents from the previous day. The CME Lean Hog Index was down 66 cents on June 11 at $92.09.
USDA’s pork carcass cutout value from the Tuesday PM report was down $1.55 at $95.57 per cwt. All primals were lower, led by the butt and ham. USDA estimated federally inspected hog slaughter for Tuesday at 963,000 head, with the week to date total at 963,000 head. That is up 22,000 head from last week and 9,326 head above the same week last year.
Jul 26 Hogs closed at $94.800, down $1.775,
Aug 26 Hogs closed at $95.050, down $0.725
Oct 26 Hogs closed at $79.925, down $0.300,
