Lean hogs are trading with losses of $1.55 to $2.37 on Tuesday. The national average base hog negotiated price was not reported on Tuesday morning due to light volume, with USDA showing a 5-day rolling average at $90.23. The CME Lean Hog Index was back up 50 cents from the previous day on February 28 at $89.94.Â
In response to President Trump’s additional 10% tariff on Chinese goods, China has issued a 10% tariff on imports of US pork. President Trump has followed through with the 25% tariffs on Mexico and Canada. Mexico has given a Sunday deadline on how they will respond, with the Mexican President stating both tariff and non-tariff measures. Canada has issued 25% tariffs on $30 billion(Canadian) of US goods.
Tuesday morning’s FOB plant pork cutout value from USDA was down 88 cents at $98.91 per cwt. The rib was the only primal reported higher. 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  are at $82.150, down $1.550,
May 25 Hogs  are at $85.400, down $2.275
Jun 25 Hogs  is at $92.975, down $2.375,
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.
/Amazon%20-%20Image%20by%20bluestork%20via%20Shutterstock.jpg)
/Salesforce%20Inc%20HQ%20building-by%20JHVEPhoto%20via%20Shutterstock.jpg)
/Semiconductor%20close%20up%20by%20Yosi%20Azwan%20via%20iStock.jpg)