Lean hog futures slipped lower on Tuesday, as contracts were down 15 cents to $1. USDA’s daily direct hog report showed the negotiated hog price at $109.24, up $3.12 from the day prior. The CME Lean Hog Index was up 89 cents on June 13, at $103.70.
The markets will be closed on Thursday in observance of Juneteenth, with the government closed as well and reports pushed back a day.
USDA’s FOB plant pork cutout value from Tuesday afternoon was up 41 cents at $119.89. The loin, picnic, and belly were the primals reported lower. Federally inspected hog slaughter for Tuesday was estimated at 480,000 head, taking the weekly total to 958,000 head. That is down 2,000 from last week but 15,649 head larger than the same week last year.
Jul 25 Hogs closed at $111.650, down $0.150,
Aug 25 Hogs closed at $111.800, down $0.875
Oct 25 Hogs closed at $95.175, down $1.000,
