Hogs Mostly Higher at Midday

Lean Hog futures are mostly 57.5 cents to $1.05 higher at midday, with nearby Aug down 95 cents. China's hog herd is officially 15% smaller, although other Chinese data suggests a much larger decline from ASF. The CME Lean Hog Index was UNCH from the previous day on July 12 @ $70.73. The USDA pork carcass cutout value was up $1.86 in the Tuesday AM report at $74.76. The butt was the only primal reported lower. The national average base hog price was down $1.10 at $67.51. Estimated FI hog slaughter for Monday was 410,000 head. That was down 69,000 head from last week due to plant down time and 19,000 head below the same week last year.

AUG 19 Hogs are at $79.150, down $0.950,

OCT 19 Hogs are at $74.475, up $0.575

DEC 19 Hogs are at $72.800, up $1.000

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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