Hogs Back to Mixed Tuesday Action after Early Weakness
Lean hog futures are shrugging off sharper early losses, with contracts 40 cents higher to 50 cents lower at midday. USDA’s national average base hog negotiated price was reported at $94.51 on Tuesday morning, back down 40 cents from the day prior. The CME Lean Hog Index was up another 20 cents on May 16, at $91.46.
USDA’s FOB plant pork cutout value from Tuesday morning was reported at $100.56, back down 53 cents. The rib and ham primals were reported higher. Federally inspected hog slaughter for Monday was estimated at 480,000 head by the USDA. That was down 14,000 head from the previous Monday and 901 head above the same Monday last year.
Jun 25 Hogs are at $99.650, up $0.400,
Jul 25 Hogs are at $103.125, down $0.450
Aug 25 Hogs is at $102.600, down $0.500,
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.