Hogs Push Higher on Tuesday
Lean hog futures posted gains of a tick to 85 cent gains on Tuesday. The national average base hog price was reported at $77.11 on Tuesday afternoon, up $1.89 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 $97.27 per cwt in the Tuesday PM release, down 97 cents from the day prior. The loin, butt, and picnic were all reported lower, by a range of $1.22 to $4.04, led by the loin. USDA estimated the Tuesday FI hog slaughter at 488,000 head, with this week’s total at 976,000 head. That is up 16,000 head from the previous week and 7,236 head larger than the same week last year.
Dec 24 Hogs closed at $79.125, up $0.850,
Feb 25 Hogs closed at $82.800, up $0.550
Apr 25 Hogs closed at $86.225, up $0.300,
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.