Hogs Rally on Monday
Lean hog futures pushed higher on Monday, with gains of $1.45 to $2.85 in the front month at the close. Monday afternoon’s national average base hog negotiated price from the USDA was reported at $88.05, down $1 from the day prior. The CME Lean Hog Index was back down 19 cents from the previous day at $89.55 on March 13.
The Monday afternoon USDA FOB plant pork cutout was up 27 cents at $97.65 per cwt. The loin and belly primals were the only reported higher. USDA estimated the monthly Federally inspected hog slaughter at 487,000 head. That is steady with last week and 5,964 head larger than the same Monday last year.
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Apr 25 Hogs closed at $88.075, up $1.450,
May 25 Hogs closed at $91.450, up $2.250
Jun 25 Hogs closed at $99.125, up $2.825,
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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