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Hogs Gain Triple Digits

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The front month lean hog futures market traded higher on Tuesday. August futures were up by 57 cents, but the other contracts were up by $1.22 to $1.92. With 9.5 trading days left, June hog futures were down by 20 cents to $45.17. Open interest as of Thursday was 20,137 contracts. The CME Lean Hog index for June 26 was unch at $45.23. The National Average Base Hog price was $28.45 in the PM update, up by 14 cents. The WCB regional base hog price was down by 8 cents to $28.53 on the 30th. USDA’s National Pork Carcass Cutout Value was $2.09 lower to $63.12. Bellies were down by $14.98 cwt. to $84.18, which is the lowest quote since May 27. China’s General Administration of Customs issued a temporary ban on meat imports from Brazil in response to coronavirus fears. USDA estimated Tuesday’s federally inspected hog slaughter at 469,000 head. That puts WTD hog slaughter at 937,000 head. That is 31k head more wk/wk, and 1,000 head more yr/yr.

Jul 20 Hogs closed at $45.175, down $0.200,

Aug 20 Hogs closed at $49.025, up $0.575

Oct 20 Hogs closed at $49.350, up $1.925

--- provided by Brugler Marketing & Management

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