Hogs Fall on Tuesday
Lean hog futures saw Tuesday losses of 45 cent to $1.75, led by the front months. USDA’s national average base hog negotiated price was reported at $90.98 on Tuesday afternoon, up $2.08 from the previous day. The CME Lean Hog Index was down another 29 cents from the previous day at $89.71 on March 7.
The USDA’s WASDE showed projected 2025 pork production at 28.425 billion lbs, down 105 million lbs from last month on a lower quarter 1 output.
USDA’s FOB plant pork cutout was 64 cents lower in the Tuesday afternoon report at $97.58 per cwt. The rib and ham were the primals reported higher. USDA estimated the Tuesday Federally inspected hog slaughter at 489,000 head, with the weekly total at 976,000 head. That is 10,000 head above last week and 36,706 head larger than the same week last year.
Apr 25 Hogs closed at $86.550, down $1.750,
May 25 Hogs closed at $90.200, down $1.275
Jun 25 Hogs closed at $98.375, down $0.450,
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.