Hogs Sharply Lower at Midday

Lean Hog futures are down 12.5 cents in soon to expire June, with other contracts $2 to $2.75 lower. The CME Lean Hog Index was down 35 cents from the previous day @ $79.95 on June 7. The USDA pork carcass cutout value was up $1.46 cents on Tuesday morning at $85.52. The national average base hog was down 89 cents at $75.59 per hundred pounds. Estimated FI hog slaughter for Monday was 477,000 head. That is 10,000 head above last week and 33,000 head larger than the same Monday last year. On Tuesday morning, USDA trimmed 2019 pork production by 35 million pounds to 27.288 billion with the main reduction in the second and third quarters. They also increased expected 2019 exports by 220 million pounds to 6.466 billion.

Jun 19 Hogs are at $79.150, down $0.125,

Jul 19 Hogs are at $84.200, down $2.000

Aug 19 Hogs are at $82.825, down $2.025

--provided by Brugler Marketing & Management

Market Commentary provided by:

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