Lean hog futures saw gains of $1.70 to $2.10 on Tuesday. Open interest suggests longs coming back in, rising 3,563 contracts. April was the only to see a drop in OI, down 2,006 contracts. USDA’s national base hog price was not reported on Tuesday afternoon, with the 5-day rolling average at $89.82. The CME Lean Hog Index was 22 cents higher on Feb 20 at $88.17.
USDA’s pork carcass cutout value from the Tuesday PM report was 45 cents at $96.95 per cwt. The rib, picnic, and ham were the primals reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 489,000 head, with the week to date total at 966,000 after a revision to Monday. That is 22,000 head above last week and 2,647 head below the same week last year.
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Apr 26 Hogs closed at $95.800, up $2.100,
May 26 Hogs closed at $100.500, up $1.850
Jun 26 Hogs closed at $110.025, up $1.700,
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.
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