Lean hogs posted Tuesday losses of $1.35 to 2.20. The national average base hog negotiated price was reported at 89.21 on Tuesday afternoon, up 80 cents from the day prior. The CME Lean Hog Index was back up 50 cents from the previous day on February 28 at $89.94.
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, with a second round on $125 billion in 21 days including pork. Later in the day, Commerce Secretary Lutnick indicated there may be an announcement coming on Wednesday regarding a potential rollback of the tariffs.
Tuesday afternoon’s FOB plant pork cutout value from USDA was down $2.02 at $97.77 per cwt. The picnic was the only primal reported higher. USDA estimated the Tuesday Federally inspected hog slaughter at 487,000 head, with the week to date total at 972,000 head. That is 7,000 head below last week but 35,481 head above the same week last year.
Apr 25 Hogs  closed at $82.350, down $1.350,
May 25 Hogs  closed at $85.475, down $2.200
Jun 25 Hogs  closed at $93.150, down $2.200,
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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