The turnaround Tuesday trading has hog futures working back in the black with triple digit gains across the front months. August is back up by $1.12 while the October contract is trading $1.50 higher - erasing Monday’s red start for the week. The National Average Base Hog price was $3.71 higher to $102.18 in the AM report. The CME Lean Hog Index was 44 cents higher to $104.04 for 7/20.
Pork cutout futures are up by triple digits as well with a $1.20 gain in the August contract so far. The National Pork Carcass Cutout Value was shown at 37 cents weaker to $117.58. USDA estimated FI hog slaughter for Monday at 456k head, compared to 449k head last week and 452 during the same Monday last year.
Aug 23 Hogs are at $101.200, up $1.100,
Oct 23 Hogs are at $84.025, up $1.375
Aug 23 Pork Cutout is at $109.500, up $1.200,
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.
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