Hogs Falling Back Lower on Tuesday
Lean hog futures are falling at Tuesday’s midday, with contracts down 90 cents to $2.45. The USDA national average base hog negotiated price from the USDA was reported at $90.29, up $2.62 from the day prior. The CME Lean Hog Index was down 27 cents from the previous day at $89.28 on March 14.
Tuesday morning’s USDA FOB plant pork cutout was down 21 cents at $97.44 per cwt. The rib and ham primals were the only reported higher, with the belly down $5.37. USDA estimated the Monday 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.
Apr 25 Hogs are at $87.175, down $0.900,
May 25 Hogs are at $89.625, down $1.825
Jun 25 Hogs is at $96.675, down $2.450,
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.