Lean hog futures reversed higher from the Monday weakness, with Tuesday gains of 75 cents to $1 higher. Open interest suggested some short covering, down 4,899 contracts. USDA’s national base hog price was down $3.12 in the Tuesday afternoon report at $69.56. The CME Lean Hog Index was up 19 cents on December 12 at $82.99.
USDA’s pork carcass cutout value from the Tuesday PM report was 33 cents lower to $98.56 per cwt. The rib and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 494,000 head, with the weekly total at 973,000. That was 8,000 head below last week after a revision to Monday and 1,175 head shy of the same week last year.
Feb 26 Hogs closed at $84.775, up $0.925,
Apr 26 Hogs closed at $89.700, up $0.775
May 26 Hogs closed at $93.375, up $0.875,
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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