Lean hog futures posted sharp losses in most contracts on Tuesday, with August down the limit. July was down just 72.5 cents as it tries to stay close to cash ahead of next Monday’s expiration. The CME Lean Hog Index was down 19 cents on July 6, to $81.91. The USDA pork carcass cutout value was down $1.29 on Tuesday afternoon at $84.10. The butt was the only primal cut reported higher, up just 4 cents. The national base carcass price was down 8 cents from the previous day, reported at $76.36. USDA estimated FI hog slaughter at 901,000 head through Tuesday, down 25,000 head from last week but 24,000 head above last year.