Hogs Pushing Higher at Midday
Lean hog futures are posting 20 to 82 cent gains so far on Tuesday. The national average base hog price was reported at $75.18 on Tuesday morning, up 61 cents from the previous day. The CME Lean Hog Index was reported at $84.23 on October 18, up 27 cents from the day prior.
USDA’s FOB plant pork cutout value was reported at $97.08 per cwt in the Tuesday AM release, down $1.16 from the day prior. The belly, loin, butt, and picnic were all reported lower, by a range of 12 cents to $4.54, led by the picnic. USDA estimated the Monday FI hog slaughter at 488,000 head. That is up 15,000 head from the previous Monday and 1,838 head larger than the same Monday last year.
Dec 24 Hogs are at $79.100, up $0.825,
Feb 25 Hogs are at $82.700, up $0.450
Apr 25 Hogs is at $86.125, 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.