Hogs Stick to Steady on Tuesday
Lean hog futures posted mixed trade on Tuesday, with contracts sticking near unchanged at the close and nearbys with in a quarter of unch. USDA’s national average base hog negotiated price was up $3.85 on Tuesday afternoon to $85.84. The CME Lean Hog Index was down another 86 cents from the previous day at $86.86 on April 11.
Tuesday afternoon’s pork cutout value was back down $1.05 according to the USDA, at $91.73. The belly was down $6.26, with the picnic and long also reported lower. USDA’s federally inspected hog slaughter was estimated at 487,000 head for Tuesday, with the week to date total at 974,000 head. That is down 2,000 head from last week but 8,949 head above the same week last year.
May 25 Hogs closed at $88.200, up $0.250,
Jun 25 Hogs closed at $95.175, up $0.050
Jul 25 Hogs closed at $95.475, down $0.025,
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.