Lean Hogs Consolidating While Cutout Rises

Lean Hog futures closed the Tuesday session with most 2019 contracts steady to $1.40 lower. Preliminary open interest rose 2500 contracts. The CME Lean Hog Index was up another 52 cents from the previous day @ $81.54 on April 19. The USDA pork carcass cutout value was $1.06 higher in the Tuesday afternoon report, at $88.92. All primals were reported higher. The national average base hog was $80.02, down 19 cents on Tuesday. Estimated FI hog slaughter for this week is 799,000 head through Tuesday. That was down from last year and the week prior due to Monday’s plant down time.

--provided by Brugler Marketing & Management




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