Lean hogs bounced back on Monday, closing with contracts up a tick to 32 cents. The national average base hog negotiated price was reported at $88.41 on Monday afternoon by the USDA, down $1.61 from the day prior. The CME Lean Hog Index was back up by a nickel from the previous day on February 27 at $89.44.
President Trump has indicated he will follow through with the tariffs on Mexico and Canada. There has yet to be any retaliatory measures from either country ahead of the potential implementation though pork is thought to see some impact.
The Monday afternoon FOB plant pork cutout value from USDA was $1.37 higher at $99.79 per cwt. The belly led the charge higher, up $5.55, with the rib the only primal reported lower. USDA estimated Monday’s Federally inspected hog slaughter at 490,000 head. That is even with last Monday and 4,836 head above the same week last year.
Apr 25 Hogs closed at $83.700, up $0.025,
May 25 Hogs closed at $87.675, up $0.250
Jun 25 Hogs closed at $95.350, up $0.325,
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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