Hogs Look to Tuesday Trade Following Monday Weakness
Lean hog futures were down $1.22 to $1.77 at the Monday close, with nearby August up 12 cents. Open interest was down 2,296 contracts. USDA’s national base hog price was reported at $100.69 on Monday afternoon, up $1.32 from the day prior. The CME Lean Hog Index was another 43 cents higher on July 23 at $97.91.
USDA’s pork carcass cutout value was down 18 cents in the Monday afternoon report, at $104.45. The ham and belly primals were reported lower. USDA estimated federally inspected hog slaughter for Monday was 442,000 head. That is 11,000 head above the Monday prior but 1,427 head shy of the same Monday last year.
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Aug 26 Hogs closed at $102.975, up $0.125,
Oct 26 Hogs closed at $87.800, down $1.225
Dec 26 Hogs closed at $78.550, down $1.775,
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.
