Hogs Start Week with Losses
Lean hogs settled with losses of 55 cents to $1.05 in the nearbys on Monday. Weaker equity market trade added pressure to the market. The USDA National Base Hog price was reported at 76.91 in the Monday PM print, down $7.16 from the previous day. The CME Lean Hog Index was $93.64 on August 1, up another 11 cents from the previous day.
USDA’s FOB plant pork cutout value was down 3 cents in the Monday afternoon average carcass quote, at $104.28 per cwt. All primals were reported higher, with the ham the lone exception, down $2.96. USDA estimated the Monday FI hog slaughter at 411,000 head. That is down 62,000 head from last week and 7,332 head below the same week a year ago.
Aug 24 Hogs closed at $91.150, down $1.050,
Oct 24 Hogs closed at $75.725, down $0.850
Dec 24 Hogs closed at $68.600, down $0.550,
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.
