Lean Hogs - Bulls Hope to Extend Limit Move

Lean Hog futures post limit gains in the August through December contracts. Nearby July has to stick close to cash ahead of expiration and was up $1.30. The CME Lean Hog Index was down 90 cents from the previous day @ $71.92 on July 5. The USDA pork carcass cutout value was up a sharp $3.70 in the morning and still up $1.89 in the PM report at $73.77. The hams and bellies were up the most. The national average base hog price was up 21 cents on Tuesday at $66.08. Estimated week to date FI hog slaughter was 957,000 head. That was up 26,000 head from last Tuesday and 57,000 head larger than same week last year.

--provided by Brugler Marketing & Management




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