Lean Hogs
Lean hog futures finished Tuesday with gains of 20 cents to $1.575 in the front months, with deferred contracts 5 to 22.5 cents lower. The CME Lean Hog Index for 6/9 was up another 57 cents to $80.59. The USDA pork carcass cutout value was $1.83 higher in the afternoon report, with a weighted average of $94.97. All primal cuts were reported higher. The national base hog carcass price was $2.54 higher with a weighted average of $79.76 in the afternoon report. The higher cash values encouraged futures to reverse Monday losses. Through Tuesday, estimated FI hog slaughter WTD was 844,000 head, 31,000 fewer than last week and 10,000 head below last year.

Market Commentary provided by:

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