Hogs Close Off Limits

July hog futures touched limit losses late in the session but closed the day down by $3.65. The other front months were $1.60 to $3.25 lower on Thursday, with losses less pronounced in the deferred contracts. The CME Lean Hog index was up 23 cents on May 26, to $62.53. USDA National Average Base Hog price was $37.82 on Thursday, down by $1.57. The National Pork Carcass Cutout Value was $89.46 on Thursday, up by 64 cents. The primals were mixed again, but the daily changes in butts and hams set new records. Butts were down $30.02 to $121.44 cwt. and hams were up by $22.07 to $65.37 cwt. USDA estimated WTD hog slaughter through Thursday at 1.25m head. Last year’s harvest pace through the same day was 1.41m head. Broiler egg sets are running 2% below year ago, but creeping higher.

Jun 20 Hogs closed at $56.925, down $3.250,

Jul 20 Hogs closed at $55.650, down $3.650

Aug 20 Hogs closed at $55.025, down $2.575

--- provided by Brugler Marketing & Management




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