Hogs Look to the Midweek Session
Lean Hog futures posted mixed trade on Tuesday, with contracts down 5 to 47 cents in the nearbys and deferreds up 2 to 52 cents. The national average base hog negotiated price was down 83 cents in the Tuesday PM report at $82.49. The CME Lean Hog Index was reported at $88.49 on November 15, down another 78 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Tuesday afternoon, down $2.39 at $94.68 per cwt. The rib and ham primals were the only reported higher, with the picnic leading the charge to the downside, $7.13 lower. USDA estimated the Tuesday FI hog slaughter at 489,000 head, with the weekly total at 978,000 head. That is 33,000 head above last week and up 993 head from the same week last year.
Dec 24 Hogs closed at $79.550, down $0.475,
Feb 25 Hogs closed at $82.875, down $0.400
Apr 25 Hogs closed at $87.100, down $0.325,
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.