Hogs Look to Midweek Trade
Lean hog futures closed with most front months $1 to $1.30 higher on the session. Open interest was down 437 contracts on Tuesday. USDA’s national base hog price was tallied at $78.74 in the Tuesday PM report at $78.74. The CME Lean Hog Index was down another 55 cents on September 24 at $81.21.
USDA’s pork carcass cutout value was back down 3 cents in the Tuesday afternoon report, at $87.77. The loin, picnic, and ham primals were reported lower. Federally inspected hog slaughter for Tuesday was estimated at 493,000 head, with the weekly total at 977,000 head. That was 30,000 head above last week and 12,704 head larger than the same week last year.
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Oct 26 Hogs closed at $79.375, up $1.125,
Dec 26 Hogs closed at $69.700, up $1.300
Feb 27 Hogs closed at $70.625, up $1.250,
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.
