Lean Hogs Continue Volatile Daily Moves

Lean Hog futures settled with $1.375 to $2.95 losses on Tuesday, with soon to expire June down 20 cents. 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 down 30 cents on Tuesday afternoon at $83.76. Pork bellies have yet to show any signs of a typical BLT season rally. The national average base hog was up 60 cents at $75.30 per hundred pounds. This week’s estimated FI hog slaughter through Tuesday was 949,000 head. That is 5,000 head above last week and 58,000 head larger than the same week last year. On Tuesday, USDA trimmed likely 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 pork exports by 220 million pounds to 6.466 billion.

--provided by Brugler Marketing & Management

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