Hogs Extend Weakness to Tuesday, as Cutout Falls

Lean hog futures slipped 45 cents to $1.45 across contracts on Tuesday, while the USDA’s national base hog price rose $1.37 to $97.48. The CME Lean Hog Index advanced 3 cents to $92.63 as of June 4.

Pork carcass cutout values fell $2.50 to $95.96 per cwt, with only the picnic primal showing strength. USDA reported Tuesday’s hog slaughter at 485,000 head, bringing the week’s total to 950,000—the lowest since last Monday, down 8,000 head week-over-week and 8,244 below the same period last year.

Jun 26 Hogs closed at $93.575, down $0.450
Jul 26 Hogs closed at $96.150, down $1.225
Aug 26 Hogs closed at $94.700, down $1.450

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