Lean Hogs Supported By Rising Cash Values

Lean Hog futures were firm to 40 cents higher in most contracts on Monday. August was down 65 cents, marking time as it is showing a $10 premium to the Index. The CME Lean Hog Index was up 88 cents from the previous day on July 18 @ $72.40. The newly updated CME Fresh Bacon Index was up $5.81 wk/wk at $137.89/cwt. The USDA pork carcass cutout value rose $2.08 at $80.61 on Monday afternoon. The national average base hog value was up $3.78 on Monday at $76.02. Estimated FI hog slaughter was 473,000 head on Monday. That was up 63,000 head from the previous week and 49,000 head below the same week last year. Frozen pork stocks at the end of June were tallied at 622.367 million lbs. That was up 10.77% from last year but a drop of 1.05% from May. Belly stocks were up 5.98% from a year ago at 56.563 million lbs, but down 11.95% from May.

--provided by Brugler Marketing & Management

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