Hogs Post Triple Digit Strength on Tuesday
Lean hog futures were up $1.12 to $1.85 in the nearby contracts on Tuesday, with other contracts 47 cents to $1.17 higher. The national average base hog price was reported at $77.33 on Tuesday afternoon, up 37 cents from the previous day. The CME Lean Hog Index was $84.38 on September 13, down another 49 cents from the day prior.
USDA’s FOB plant pork cutout value was up 78 cents in the Tuesday PM report at $95.00 per cwt. The ham and belly were the only primals reported higher, up $3.66 and $3.33 respectively. USDA estimated FI hog slaughter at 474,000 head for Tuesday, with the weekly total at 949,000 head. That is down 21,000 head from the previous week on a Monday revision and 22,094 head below the same week last year.
Oct 24 Hogs closed at $81.775, up $1.850,
Dec 24 Hogs closed at $73.700, up $1.525
Feb 25 Hogs closed at $76.800, up $1.125,
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.