Hog Facing Weakness on Tuesday
Lean hogs are trading with contracts down 35 to 90 cents at midday. USDA’s National Average Base Hog negotiated price was reported at $88.49 this morning, up $2.03 from the Monday afternoon report. The CME Lean Hog Index was down 7 cents on May 17 at $92.22.
USDA’s National Pork Carcass Cutout Value was 99 cents lower in the Tuesday AM report at $100.78. The loin was the only primal reported lower, down $5.37, as all others were reported higher. USDA estimated Monday’s federally inspected hog slaughter at 482,000 head. That is up 21,000 head from the week prior and 9,832 head above the same Monday last year.
Jun 24 Hogs are at $96.275, down $0.650,
Jul 24 Hogs are at $99.150, down $0.800
Aug 24 Hogs is at $98.325, down $0.875,
On the date of publication, Alan Brugler 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.
