Lean Hogs
Lean hog futures posted losses of 52.5 cents to $1.475 on Thursday. The CME Lean Hog Index for 6/13 was up another 94 cents to $82.10. The USDA pork carcass cutout value was 17 cents lower in the afternoon report, with a weighted average of $94.90. The loin, picnic, and rib primal cuts were all lower. The national base hog carcass price was $1.60 higher with a weighted average of $83.87 in the afternoon report. Prices ranged from $78.00-$86.00. Through Thursday, estimated week to date FI hog slaughter was 1,710,000 head, 44,000 fewer than last week but now 5,000 head above last year. The USDA reported weekly pork exports picked up to 21,007 MT, a 5.9% increase over last week. Total pork export commitments YTD are now 5% ahead of last year at this time.

Market Commentary provided by:

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