Hogs Close Mostly Higher with Strength in the Cutout

Lean Hog futures were 30 cents to $1.55 higher in most contracts on Tuesday, with newly appointed nearby Aug down $1.05. The CME Lean Hog Index was UNCH from the previous day on July 12 @ $70.73. The USDA pork carcass cutout value was up $2.90 in the Tuesday PM report at $75.80. The butt was the only primal reported lower, with the belly up $9.53. The national average base hog price was up 75 cents on Tuesday afternoon at $69.36. Estimated FI hog slaughter for Tuesday was 885,000 head. That was down 72,000 head from last week due to plant down time and 3,000 head below the same week last year. China's hog herd is officially 15% smaller, although other Chinese data suggests a much larger decline from ASF.

AUG 19 Hogs closed at $79.050, down $1.050,

OCT 19 Hogs closed at $75.300, up $1.400

DEC 19 Hogs closed at $73.350, up $1.550

--provided by Brugler Marketing & Management

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