Hogs Rebound on Turnaround Tuesday

Lean Hog futures posted 50 cent to $1.95 gains on Turnaround Tuesday. The CME Lean Hog Index was down 49 cents from the previous day @ $78.65 on June 21. The USDA pork carcass cutout value was down $1.75 @ $75.58. The belly was down $9.47 after being up on Monday. The national average base hog price was down $1.33 on Tuesday afternoon at $72.18 per hundred pounds. Estimated weekly FI hog slaughter through Tuesday 923,000 head. That was down 21,000 from the previous week but 42,000 more than the same week in 2018. Analysts expect NASS to show the June 1 hog herd at 75.052 million head this Thursday, up 3% from last year. Hogs kept for breeding are seen up 2.1% at 6.453 million, with marketing at 68.609 million head up 3.1% yr/yr.

Jul 19 Hogs closed at $74.400, up $1.550,

Aug 19 Hogs closed at $76.175, up $1.950

Oct 19 Hogs closed at $69.900, up $0.850

--provided by Brugler Marketing & Management

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