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Hogs Make Midday Gains

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Lean hog futures are recovering some of yesterday’s pullbacks with gains of $0.30 to $1.30 through midday. August futures and options expire in two weeks on the 14th. The CME Lean Hog was $53.56, up by 61 cents on July 29. USDA’s National Average Morning Base Hog price for Friday was delayed; on Thursday, the afternoon quote was $41.36. USDA’s National Pork Carcass Cutout value was up a buck to $68.57 this morning. The primals were mixed, but bellies popped up by $10.05 to $106.77 cwt. Federally inspected hog slaughter for the week through Thursday was 1.882 million head. That is below last week’s pace by 84,000 head, but exceeds the same week last year by 21,000 head.

Aug 20 Hogs are at $51.850, up $0.425,

Oct 20 Hogs are at $49.625, up $1.300

Dec 20 Hogs are at $50.625, up $0.850

--- provided by Brugler Marketing & Management

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