Lean hog futures posted mixed Tuesday action with contracts down 42 to up 40 cents. Preliminary open interest was down 6,796 contracts on Tuesday, with much of that coming via December (11,027). USDA’s national base hog price from Tuesday afternoon was reported at $82.12, down $1.83 from the day prior. The CME Lean Hog Index was down another 64 cents on November 7 at $89.41.
USDA’s pork carcass cutout value from the Tuesday PM report was back down $2.84 to $97.38 per cwt. The rib was the only primal reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 460,000 head, taking the weekly total to 954,000 head. That is 27,000 head above last week but 11,025 head above the same week last year.
Dec 25 Hogs closed at $82.350, down $0.425,
Feb 26 Hogs closed at $83.225, up $0.400
Apr 26 Hogs closed at $87.050, up $0.375,
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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