Lean hog futures saw mixed action at the Tuesday close, with front months down 40 to 62 cents and August holding onto gains, up 55 cents. Preliminary open interest was up 4,366 contracts overall, with June down 2,924 and July 1,170 lower. USDA’s national average base hog negotiated price was reported at $98.84 on Tuesday afternoon. The CME Lean Hog Index was up $1.06 on May 30, at $95.90.
USDA’s FOB plant pork cutout value from Tuesday morning was $106.11, back down 64 cents. The rib was the only primal reported higher. Federally inspected hog slaughter on Tuesday was estimated at 482,000 head by the USDA, taking the weekly total to 945,000 had. That is down 12,699 head from the same week last year.
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Jun 25 Hogs closed at $100.225, down $0.625,
Jul 25 Hogs closed at $104.575, down $0.400
Aug 25 Hogs closed at $106.450, up $0.550,
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