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Hog Strength Continues on Tuesday
Lean hog futures were up 60 cents to $1.90 at Tuesday’s close. USDA’s national base hog price was reported at $113.52 on Tuesday afternoon. The CME Lean Hog Index was down 27 cents at $109.99 on August 1.
Census data converted to a carcass basis showed pork export shipments in June at 551.64 million lbs. That was the third largest for the month on record but a slight 2.3% drop from May.
USDA’s FOB plant pork cutout report from Tuesday PM was up 33 cents at $118.12 per cwt. The ham and belly primals were the only reported higher. USDA estimated hog slaughter at 482,000 head for Tuesday, taking the week’s total to 907,000 head. That was 3,000 head below last week but up 16,770 head from the same week last year.
Aug 25 Hogs closed at $108.775, up $0.600,
Oct 25 Hogs closed at $92.800, up $1.900
Dec 25 Hogs closed at $85.175, up $1.725,
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.