Hogs Faces Tuesday Weakness
Lean hog futures posted losses of 75 cents to $1.80 across most contracts on Tuesday, with May up a nickel. USDA’s national base hog price was reported at $95.19 on Tuesday afternoon. The CME Lean Hog Index was back down 38 cents on May 8 at $90.41.
USDA’s pork carcass cutout value from the Tuesday PM report was down $1.46 at $95.52 per cwt. The butt and rib primals were the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 491,000 head, with the weekly total at 953,000 head. That is down 14,000 head from the previous week and 6,710 head above the same week last year.
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May 26 Hogs closed at $90.925, up $0.050,
Jun 26 Hogs closed at $98.425, down $1.800
Jul 26 Hogs closed at $102.950, down $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.
