Lean Hogs Locked Limit Down in July and August

Lean Hog futures were sharply lower, anywhere from $0.72 in nearby and soon to expire June to limit down in July and August. The CME Lean Hog Index was down 11 cents from the previous day @ $80.56 on June 5. The USDA pork carcass cutout value was down 17 cents today at $83.08. The national average base hog was UNCH at $75.63 despite lower prices in the WCB. Estimated weekly FI hog slaughter was 2.417 million including a Saturday run of 51,000. The weekly total would be 149,000 head more than the same week last year. Official April pork exports from Census showed 176,941 MT shipped out in April. That was down 4.1% from April 2018, with prices rising sharply in March and April. China shipments were up 16.4%, but actually smaller than suggested by the weekly FAS export sales numbers.

JUN 19 Hogs closed at $78.650, down $0.725,

JUL 19 Hogs closed at $83.350, down $3.000

AUG 19 Hogs closed at $82.625, down $3.000

--provided by Brugler Marketing & Management

Market Commentary provided by:

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