Hogs Slipping on Wednesday
Lean hog futures are off the early session lows, but still trading down a tick to 97 cents so far at midday. The USDA national average base hog negotiated price was up 88 cents from the day prior at $88.96 in the Wednesday AM report. The CME Lean Hog Index was back up 15 from the previous day on March 31 at $88.65.
President Trump is set to roll out tariffs later this afternoon on what he has labeled “Liberation Day”. Mexico’s President Sheinbaum stated this morning that she will not impose reciprocal tariffs against the US.
Tuesday afternoon’s pork cutout print from USDA was down 54 cents at $94.97 per cwt. The loin and belly were the only primals reported lower. USDA estimated the Tuesday Federally inspected hog slaughter at 489,000 head, with a weekly total at 953,000 head. That is down 10,000 head from last week and 104,871 head above the same week last year.
Apr 25 Hogs are at $87.350, down $0.025,
May 25 Hogs are at $88.875, down $0.600
Jun 25 Hogs is at $96.050, down $0.975,
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.