Hogs Holding Higher at Midday
Lean hog futures are 20 to 55 cents higher across most contracts on Tuesday. USDA’s national base hog price was reported at $99.43 on Tuesday morning. The CME Lean Hog Index was down 55 cents on July 31 at $97.68.
Pork exports converted from Census data to a carcass basis showed June shipments a 540.19 million lbs. That was a 3.2% drop from last year and 10.3% below May.
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USDA’s pork carcass cutout value was up $1.64 in the Tuesday morning report, at $102.55. The rib and butt primals were the only reported lower. USDA estimated federally inspected hog slaughter for Monday at 430,000 head. That is 10,000 head above the previous Monday and 2,806 head more than the same Monday last year.
Aug 26 Hogs are at $97.725, up $0.200,
Oct 26 Hogs are at $84.200, up $0.525
Dec 26 Hogs are at $75.550, up $0.200,
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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