Hogs See Mixed Tuesday Action as Traders Look to Wednesday
Lean hog futures posted mixed Tuesday trade, with contracts down a tick to 25 cents and deferreds steady to 25 cents higher. Open interest was up 2,185 contracts on Tuesday. USDA’s national base hog price was reported at $91.63 on Tuesday afternoon, up $2.90 from the day prior. The CME Lean Hog Index was down another 66 cents on August 28 at $90.86.
USDA’s pork carcass cutout value was back up 23 cents in the Tuesday PM report, at $97.90. The loin and belly were the only primals reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 476,000 head, with the week to date total at 940,000 head. That is 1,000 head above the previous week.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Oct 26 Hogs closed at $83.650, down $0.025,
Dec 26 Hogs closed at $74.000, down $0.150
Feb 27 Hogs closed at $76.275, down $0.250,
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.
More news from Barchart
