Lean hogs were under pressure again on Tuesday, with losses of 80 to 90 cents in the nearby contracts. The national average base hog negotiated price was reported at $88.84 the USDA this afternoon, down 24 cents from the day prior. The CME Lean Hog Index was down 85 cents on February 21 at $89.68.
Tuesday afternoon’s FOB plant pork cutout value from the USDA was back down $2.78 at $95.65 per cwt. The rib was the only primal reported higher, with the rest turning lower. Federally inspected hog slaughter for Tuesday was estimated at 489,000 head, taking the week to date total to 979,00 head. That is 11,000 head above last week but down 753 head from the same week last year.
Apr 25 Hogs closed at $86.575, down $0.825,
May 25 Hogs closed at $90.600, down $0.900
Jun 25 Hogs closed at $99.100, down $0.825,
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.
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