Lean Hogs Use Expanded Daily Limit

Lean Hog futures were down $1.47 to $3.67 today with multiple front month contracts using today’s expanded limits ($4.50) to “adjust” more than $3. The CME Lean Hog Index was down 41 cents from the previous day @ $79.14 on June 20. The Fresh Bacon Index was down $1.93 in the week that ended on June 21 to $137.73/cwt. The USDA pork carcass cutout value was up 60 cents $77.33. The pork belly primal picked up $6.04 to put on some value. The national average base hog price was down $0.34 on Monday afternoon at $73.51 per hundred pounds. Estimated Monday FI hog slaughter was 448,000 head. That was down 19,000 from the previous week but 14,000 more than the same Monday in 2018. Chinese pork imports from all origins during May totaled 187,459 MT, the largest monthly total since August 2016.

Jul 19 Hogs closed at $72.850, down $3.400,

Aug 19 Hogs closed at $74.225, down $3.675

Oct 19 Hogs closed at $69.050, down $3.675

--provided by Brugler Marketing & Management




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