Hogs Continue Lower on Tuesday
Lean hog futures finished the Tuesday session with $0.65 to $1.22 losses. Dec finished opposite to the market with a 20c gain on the day. Dec is still at a $3.10 discount to Feb. The National Average Base Hog price for Tuesday afternoon was 84c weaker at $72.58. The 10/20 CME Lean Hog Index was another 72 cents lower at $79.07.
Pork cutout futures finished the session with 2 to 65 cent losses. USDA’s National Pork Carcass Cutout Value was another $1.96 weaker on Tuesday at $86.59. USDA estimated the FI hog slaughter at 483k head for Tuesday, for a weekly total of 969k head. That compares to 963k head last week and 974k head during the same week last year.
Dec 23 Hogs closed at $66.375, up $0.200,
Feb 24 Hogs closed at $69.475, down $0.725
Dec 23 Pork Cutout closed at $76.200, up $0.000,
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.
