Lean hog futures posted losses of $3.12 to the $4 limit lower, as nearby Feb was up 15 cents. Tuesday will have expanded limits of $6. The national average base hog negotiated price was not reported on Monday afternoon due to low volume, with the 5-day rolling average at $83.32. The CME Lean Hog Index was reported at $83.48 on January 30, up 42 cents from the previous day.
On Monday, following a meeting between President Trump and Mexico’s President, the tariffs on Mexico were pushed back a month from the expected Tuesday start as Mexico is planning to send 10,000 troops to the border to slow the trafficking of drugs. After meeting with President Trudeau, tariffs on Canada were also pushed back for a month on similar concessions.
USDA’s FOB plant pork cutout value was 94 cents lower in the Monday PM report at $93.91 per cwt. The butt, picnic, and ham were all reported lower. Federally inspected hog slaughter for Monday was estimated at 491,000 head. That was 8,000 head above Monday but up 2,772 head from the same Monday last year.
Feb 25 Hogs closed at $84.325, up $0.150,
Apr 25 Hogs closed at $86.350, down $4.000
May 25 Hogs closed at $90.725, down $3.800,
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.
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