Hogs Post Gains on Tuesday
Lean hog futures posted gains of 25 cents to $1.20 on the Tuesday session. May expires on Wednesday. USDA’s national average base hog negotiated price was reported at $97.27 on Tuesday afternoon with a 5-day rolling average at $94.27. The CME Lean Hog Index was down 7 cents on May 9, at $89.92.
The Tuesday afternoon FOB plant pork cutout value was up 51 cents on a carcass basis, at $97.02. The loin and belly were the only primals that was reported lower. Federally inspected hog slaughter estimated by the USDA for Tuesday at 481,000 head, with the weekly total at 947,000 head. That was down 20,000 head from the previous week and 178 lower than the same week last year.
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May 25 Hogs closed at $90.975, up $0.250,
Jun 25 Hogs closed at $99.500, up $1.200
Jul 25 Hogs closed at $103.200, up $0.725,
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.
