Hogs Look to Tuesday Trade
Lean hogs are showing 15 cent to $2.02 losses at Tuesday’s midday. The USDA Daily Direct Hog report from the morning release showed negotiated prices down $1.68 to $83.24. The CME Lean Hog Index was $90.92 on August 9, down 98 cents from the previous day.
USDA’s FOB plant pork cutout value was up $1.41 in the Tuesday morning report at $101.68 per cwt. The butt primal was the only reported lower, while belly was the strongest component of the day, up $3.92. USDA estimated the Monday FI hog slaughter at 483,000 head. That is up 72,000 head from last week and 17,422 head above the same week a year ago.
Aug 24 Hogs are at $89.875, down $0.150,
Oct 24 Hogs are at $72.300, down $2.025
Dec 24 Hogs is at $64.325, down $1.750,
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.
