Hogs Slipping Back on Tuesday
Lean hog futures are trading with weakness on Tuesday, with contracts down a dime to 90 cents. USDA’s daily direct hog report showed no negotiated price reported on light volume, with the 5-day rolling average at $106.05 on Tuesday morning. The CME Lean Hog Index was up 89 cents on June 13, at $103.70.
USDA’s FOB plant pork cutout value from Tuesday morning was down 63 cents at $118.85. The rib and butt were the only primals reported higher. Federally inspected hog slaughter for Monday was estimated at 478,000 head. That is down 2,000 from last week but 18,328 head larger than the same week last year.
Jul 25 Hogs are at $111.700, down $0.100,
Aug 25 Hogs are at $111.900, down $0.775
Oct 25 Hogs is at $95.300, down $0.875,
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.