Lean hog futures saw marginal gains on Tuesday, 45 to 60 cents higher in the front months. The Tuesday afternoon national average base hog negotiated price was reported at $91.79 by the USDA, up $2.28 from the day prior. The CME Lean Hog Index was another 72 cents higher on February 14 at $89.49
Tuesday afternoon’s USDA FOB plant pork cutout value was down $3.03 at $99.47 per cwt. The rib primal was the only reported higher, by just 6 cents, with the rest reported lower. Tuesday’s Federally inspected hog slaughter was estimated at 490,000 head, taking the weekly total to 980,000 head. That is 2,000 head below last week but up 6,485 head the same week last year.
Apr 25 Hogs closed at $93.200, up $0.600,
May 25 Hogs closed at $96.875, up $0.450
Jun 25 Hogs closed at $105.250, up $0.575,
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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