Hogs Extending Losses at Midday
Lean hogs continue to slide, with contracts down 90 cents to $1.05 in the front months. The national average base hog negotiated price was not reported by the USDA on Tuesday morning on light volume. The CME Lean Hog Index was down 85 cents on February 21 at $89.68.
The Tuesday morning FOB plant pork cutout value from the USDA was back down $1.85 at $96.58 per cwt. The rib and picnic were the only primals reported higher, with the rest turning lower. The USDA Federally inspected hog slaughter for Monday was estimated at 490,000 head. That is even with last Monday and up 1,816 head above the same Monday last year.
Apr 25 Hogs are at $86.500, down $0.900,
May 25 Hogs are at $90.450, down $1.050
Jun 25 Hogs is at $98.925, down $1.000,
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.