Hogs Switch Focus to Wednesday After Mixed Tuesday
Lean hogs closed out the Tuesday session with contracts anywhere from 45 cents lower to 62 cents higher as the summer months finished the weakest. USDA’s National Average Base Hog negotiated price was up $2.40 from the day prior on Tuesday afternoon at $92.03. The CME Lean Hog Index was back down 52 cents on April 26 at $90.36.
USDA’s National Pork Carcass Cutout Value was lower on Tuesday afternoon, down 24 cents to $98.76. The belly was down $1.26, with the ham $1.08 lower and the butt 64 cents in the red. USDA estimated federally inspected hog slaughter at 482,000 head on Tuesday, with the weekly total at 958,000 head. That is 10,000 head below last week and up 25,319 head from the same week last year.
May 24 Hogs closed at $94.150, up $0.125,
Jun 24 Hogs closed at $102.475, up $0.000
Jul 24 Hogs closed at $105.425, down $0.025,
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.