Hogs Pull Back on Tuesday
Lean hog futures slipped lower on Tuesday with some outside equity pressure, as contracts were down 15 cents to $1. USDA’s daily direct hog report showed the negotiated hog price at $109.24, up $3.12 from the day prior. The CME Lean Hog Index was up 89 cents on June 13, at $103.70.
USDA’s FOB plant pork cutout value from Tuesday afternoon was up 41 cents at $119.89. The loin, picnic, and belly were the primals reported lower. Federally inspected hog slaughter for Tuesday was estimated at 480,000 head, taking the weekly total to 958,000 head. That is down 2,000 from last week but 15,649 head larger than the same week last year.
Jul 25 Hogs closed at $111.650, down $0.150,
Aug 25 Hogs closed at $111.800, down $0.875
Oct 25 Hogs closed at $95.175, down $1.000,
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.