Hog Rally Continues on Tuesday
Lean hog futures are trading with contracts up 27 cents to $1.40. USDA’s national average base hog negotiated price was not reported on Tuesday morning with a 5-day rolling average at $94.12. The CME Lean Hog Index was down 7 cents on May 9, at $89.92.
The Tuesday morning FOB plant pork cutout value was up 71 cents on a carcass basis, at $97.22. The loin and picnic were the only primals that was reported lower. Federally inspected hog slaughter estimated by the USDA for Monday at 466,000 head. That was down 16,000 head from the previous Monday but up 1,504 head above the same Monday last year.
May 25 Hogs are at $91.000, up $0.275,
Jun 25 Hogs are at $99.700, up $1.400
Jul 25 Hogs is at $103.400, up $0.925,
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.