Hogs Fall on Tuesday
Lean hog futures posted losses of 82 cents to $2.30, as nearby Dec was up a tick. The national average base hog negotiated price was reported at $82.11 on Tuesday afternoon, which was down $1.09 from the day prior. The CME Lean Hog Index was reported at $83.46 on December 6, down 27 cents from the previous day.
USDA’s FOB plant pork cutout value reported lower on Tuesday PM, down 49 cents at $93.14 per cwt. Just the loin and picnic were reported higher, with the rib the driver to the downside, $5.66 lower. USDA estimated the Tuesday FI hog slaughter at 488,000 head, bringing the weekly total to 977,000 head. That was 1,000 head above last week and up 38,902 head from the same week last year.
Dec 24 Hogs closed at $82.925, up $0.025,
Feb 25 Hogs closed at $84.575, down $1.925
Apr 25 Hogs closed at $88.900, down $2.300,
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.