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Hog Futures in Red

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Ahead of the Independence Day extended weekend, lean hog futures are down 7 to 42 cents. The lean hog market traded lower on Wednesday. August lean hog contracts are again the outlier, up by 12 cents at midday. The CME Lean Hog index for June 29 was just a penny stronger at $45.24. The National Average Base Hog price was $28.66 yesterday, up by another 20 cents. The weekly Export Sales report from USDA showed pork bookings on the week ending June 25 at 39,151 MT. That was a 9-week high and up 66.5% yr/yr. Of the week’s pork sales, 55% were to China. China was the destination for 38% of the week’s pork shipments, bringing their YTD total to 401,1665 MT via the less comprehensive weekly report. USDA’s National Pork Carcass Cutout Value was 50 cents stronger on Wednesday. USDA estimated WTD hog slaughter at 1.406 million head through Wednesday. That is down by 8,000 head vs. the same point in 2019.

Jul 20 Hogs are at $44.725, down $0.075,

Aug 20 Hogs are at $49.200, up $0.125

Oct 20 Hogs are at $47.900, down $0.375

--- provided by Brugler Marketing & Management

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