Hogs Turning Lower into Tuesday
Lean hog futures are falling another 32 cents to $1.10 across most contracts on Tuesday. USDA’s national base hog price from Tuesday morning was not reported due to low volume. The CME Lean Hog Index was down another 82 cents on October 3 at $102.02.
USDA’s FOB plant report showed the pork cutout up $1.51 on Tuesday AM at $108.86 per cwt. The loin and butt primals were the only reported lower. USDA estimated federally inspected hog slaughter at 491,000 head for Monday. That is 1,000 head above last week and 18,745 head larger than the same week last year.
Oct 25 Hogs are at $98.000, down $0.325,
Dec 25 Hogs are at $86.275, down $1.000
Feb 26 Hogs is at $88.450, down $1.100,
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.