Lean hog futures posted losses of 45 cents to $1.45 on Tuesday. Open interest suggested a rotation of ownership, up just 40 contracts. USDA’s national base hog price was reported at $97.48 on Tuesday afternoon, up $1.37 from the day prior. The CME Lean Hog Index was up 3 cents on June 4 at $92.63.
USDA’s pork carcass cutout value from the Tuesday PM report was down $2.50 at $95.96 per cwt. The picnic was the only primal reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 485,000 head, taking the week to date total to 950,000. That is down 8,000 head from last Monday and 8,244 head below the same week last year.
Jun 26 Hogs closed at $93.575, down $0.450,
Jul 26 Hogs closed at $96.150, down $1.225
Aug 26 Hogs closed at $94.700, down $1.450,
