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Hogs Rally on Tuesday
Lean hog futures saw gains of 7 cents to $2.20 across most contracts on Tuesday, with some deferred contracts down 7 to 22 cents. The national average base hog price was reported at $82.04 on Tuesday afternoon, up another $1.09 from the previous day. The CME Lean Hog Index was reported at $85.55 on October 25, up 12 cents from the day prior.
USDA’s FOB plant pork cutout value was back down 88 cents from the day prior in the Tuesday PM report at $101.07 per cwt. The loin and picnic primals were down $3.86 and $5.37 respectively, with all other primals up 91 cents to $3.44. USDA estimated Tuesday’s FI hog slaughter at 488,000 head, with the week to date total at 976,000. That is even with the previous week and 10,943 head above than the same week last year.
Dec 24 Hogs closed at $82.825, up $2.200,
Feb 25 Hogs closed at $85.375, up $1.150
Apr 25 Hogs closed at $87.775, up $0.650,
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.