Hogs Pushing Lower on Tuesday
Lean hog futures are facing pressure at midday, with losses of 47 cents to $1.27. USDA’s national average base hog negotiated price was reported at $92.76 on Tuesday morning. The CME Lean Hog Index was up another 64 cents from the previous day at $88.18 on April 25.
Tuesday morning’s pork cutout value was up 30 cents at $97.92 according to the USDA. The picnic, ham, and belly primals were reported higher, with the rest lower. Monday’s federally inspected hog slaughter from USDA was estimated at 486,000 head. That is up 130,000 head from the previous week and 8,986 head above the same week last year.
May 25 Hogs are at $92.475, down $0.475,
Jun 25 Hogs are at $99.725, down $1.275
Jul 25 Hogs is at $100.050, down $1.175,
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.