Lean Hog futures posted limit losses in the June through August contracts, with nearby May down 20 cents as it converges with cash at expiration. Trade tensions are rising, with China adding tariffs on $60 billion of US goods. The CME Lean Hog Index was up 4 cents from the previous day @ $82.80 on May 9. CME’s initial weekly Fresh Bacon index is at $155.39 for the week of May 10, down $9.37 from the previous week. The USDA pork carcass cutout value was up $2.08 at $88.24 on Monday afternoon. The national average base hog was $80.64 on Monday, up 71 cents from the previous day. Estimated weekly FI hog slaughter was 461,000 head on Monday. That was 9,000 head below the previous week but 6,000 above the same week last year.
--provided by Brugler Marketing & Management