Lean hog futures closed with 10 to 75 cent gains on Tuesday. Some net new buying was suggested, with open interest up 6,445 contracts. USDA’s national base hog price was reported at $84.82 on Tuesday afternoon, up $1.57 from the day prior. The CME Lean Hog Index was up another 39 cents on Jan 22 at $84.01.
USDA’s pork carcass cutout value from the Tuesday PM report was $1.57 lower to $95.69 per cwt. The belly primal was the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 483,000 head, which takes the weekly total to 909,000 head. That is even with last week and 55,014 head below the same week last year.
Feb 26 Hogs closed at $89.050, up $0.750,
Apr 26 Hogs closed at $96.825, up $0.100
May 26 Hogs closed at $100.425, up $0.200,
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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