Hogs Push Higher on Tuesday
Lean hog futures closed on Tuesday, with contracts up $1.20 to $2.25 as the cash market was pushing higher. Preliminary open interest was up 9,034 contracts on Tuesday. USDA’s national average base hog negotiated price was reported at $90 on Tuesday afternoon, up $6.41 from the previous day. The CME Lean Hog Index was up another 25 cents from the day prior at $85.71 on April 18.
The USDA pork cutout report was 61 cents lower, on Tuesday afternoon at $95.78. The picnic and belly primals were reported higher, with the rest heading lower. Tuesday’s federally inspected hog slaughter from USDA was estimated at 485,000 head, with the week to date total at 841,000 head. That was down 133,000 head from last week and 128,368 head below the same week last year.
May 25 Hogs closed at $92.225, up $1.200,
Jun 25 Hogs closed at $100.275, up $2.225
Jul 25 Hogs closed at $100.275, up $2.025,
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.