Hogs Gain on Monday

Lean hog futures traded a dime to $1.40 higher on Monday. July hogs closed at $46.67 ahead of Wednesday’s expiration. The weekly Fresh Bacon Index from CME was up $3.98 to $123.87. The CME Lean Hog index for July 9 was back up 16 cents to $45.33. The National Average Base Hog price for July 13 was $30.45, up by 45 cents. The ECB regional base hog price was a $2.07 premium to WCB, after a 62 cent increase for the former and a 75 cent drop in the latter. USDA’s National Pork Carcass Cutout Value was down $1.43 in the afternoon report to $67.52. Rib cuts were down the most with a $6.59 drop to $111.88, and bellies were back below $100 at $99.57 cwt. Hams fell $12.60 cwt. from the AM quote to the afternoon. USDA estimated Monday’s FI hog slaughter at 454,000 head. That compares to 452k last week and 411k from the same week last year.

Aug 20 Hogs closed at $51.275, up $1.400,

Oct 20 Hogs closed at $50.350, up $0.500

Dec 20 Hogs closed at $51.875, up $0.100

--- provided by Brugler Marketing & Management

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