Hogs Close Higher on Tuesday
Front month hog futures were UNCH to 17 cents higher on Tuesday. The Dec contract had been up by $1.87 earlier in the session. USDA’s National Average Base Hog price fell back by 58 cents on Tuesday afternoon to $68.07. The ECB quote was reported at $69.64, while the WCB quote was $67.47. The 11/03 CME Lean Hog Index was 22 cents lower to $76.23.
Converted Census data has the September pork shipment at 512m lbs.
Pork cutout futures closed with 65 cent gains across the front months. USDA’s National Pork Carcass Cutout Value for Tuesday was $3.84 lower to $87.77. Bellies were $14.64 weaker to $107.77. Federally inspected hog slaughter for Tuesday was estimated at 489k head for a week to date total of 976k. That is 14k head more than last week but 4k less than the same week last year.
Dec 23 Hogs closed at $72.900, up $0.500,
Feb 24 Hogs closed at $76.025, up $0.075
Dec 23 Pork Cutout closed at $81.400, up $0.650,
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.
