Hogs See Weakness on Tuesday
Lean hog futures settled $.12 to $1.47 lower on Tuesday, with nearby August the best supported. The national average base hog was $83.17 on Tuesday afternoon, up 69 cents per hundred pounds from the previous quote. The WCB and IA/MN quotes were higher, while ECB was not reported due to confidentiality restrictions. The CME Lean Hog Index was $90.92 on August 9, down 98 cents from the previous day.
USDA’s FOB plant pork cutout value was up $0.06 in the Tuesday PM report at $100.33 per cwt. The rib and belly primals were the only ones reported higher. USDA estimated the Tuesday FI hog slaughter at 482,000 head, matching both last Tuesday and the same Tuesday a year ago. The week to date total is 17,000 above year ago.
Aug 24 Hogs closed at $89.900, unch,,
Oct 24 Hogs closed at $72.850, down $1.475
Dec 24 Hogs closed at $64.750, down $1.325,
On the date of publication, Alan Brugler 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.
