Hogs Posts Gains on Tuesday, as Negotiated Cash Sees Strength
Lean hog futures saw a rally of 62 cents to $2.02 across the front months on Tuesday. USDA’s national base hog price was reported at $108.40 in the Tuesday PM report, up $2.73 from the day prior. The CME Lean Hog Index was down 54 cents on August 22 at $107.27.
USDA’s FOB plant pork cutout report from Tuesday afternoon was down $1.12 at $113.05 per cwt. The butt and rib primals were the only reported higher, with the picnic back down $10.34. USDA estimated hog slaughter for Tuesday at 480,000 head, taking the weekly total to 935,000 head. That was 23,000 head below last week and down 17,558 head from the same week last year.
Oct 25 Hogs closed at $93.425, up $2.025,
Dec 25 Hogs closed at $85.925, up $1.175
Feb 26 Hogs closed at $88.125, up $0.625,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.