Hogs Close Mixed on Tuesday
Lean hogs saw mixed trade on Tuesday with front months down 7 to 80 cents and deferreds 7 to 17 points higher. USDA’s National Average Base Hog negotiated price was up $1.19 in the Tuesday afternoon report $87.75. The CME Lean Hog Index was down another 14 cents on May 23 at $91.63.
The monthly Cold Storage report showed some building of pork stocks in during April, up 1.19% on the month at 501.279 million lbs. That was down 11.66% from a year ago, compared to the 13.26% yr/yr drop at the end of March.
USDA’s National Pork Carcass Cutout Value was back up $4.26 in the Tuesday PM print at $103.40. The belly was the leader to the upside, up $9.37, with the butt the only primal reported lower, down $1.96. USDA estimated federally inspected hog slaughter 485,000 head for Tuesday. That was up 14,000 head from the week prior and 5,569 head above the same week last year.
Jun 24 Hogs closed at $93.800, down $0.475,
Jul 24 Hogs closed at $96.525, down $0.700
Aug 24 Hogs closed at $96.100, down $0.800,
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.