Lean hog futures closed with 47 cent to $1.80 losses across most contracts on Tuesday. The USDA national average base hog negotiated price was reported at $88.28 on Tuesday afternoon, up 23 cents from the day prior. The CME Lean Hog Index was down 27 cents from the previous day at $89.28 on March 14.
The Tuesday afternoon FOB plant pork cutout from USDA was down $2.01 at $95.64 per cwt. The ham primal was the only reported higher, with the belly down $10.88. USDA estimated Tuesday’s Federally inspected hog slaughter at 488,000 head, taking the week to date total to 975,000 head. That is down 1,000 from last week and 3,472 head larger than the same week last year.
Apr 25 Hogs closed at $87.600, down $0.475,
May 25 Hogs closed at $90.200, down $1.250
Jun 25 Hogs closed at $97.350, down $1.775,
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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