Hogs Using Expanded Limits on Monday

Lean Hog futures are down triple digits at midday, with multiple front months using today’s expanded limits ($4.50). The CME Lean Hog Index was down 41 cents from the previous day @ $79.14 on June 20. The Fresh Bacon Index was down $1.93 in the week that ended on June 21 to $137.73/cwt. The USDA pork carcass cutout value was up 73 cents on Monday morning at $77.46. The national average base hog price was down $1.53 on Monday at $72.32 per hundred pounds. Last week’s estimated FI hog slaughter is 2.449 million head through Saturday. That was up 18,000 from the previous week and well above the same week in 2018. Pork Stocks at the end of May totaled 628.660 million lbs, 1.16% larger than April and 0.79% above last year. Belly stocks were up 4.7% from 2018 at 64.122 million lbs. Chinese pork imports from all origins during May totaled 187,459 MT, the largest monthly total since August 2016.

Jul 19 Hogs are at $72.900, down $3.350,

Aug 19 Hogs are at $74.650, down $3.250

Oct 19 Hogs are at $69.525, down $3.200

--provided by Brugler Marketing & Management

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