In the Trenches of Trading
Hog futures are currently grappling with a downturn, trading 10 to 32 cents below the previous session and hovering near the daily trough for Tuesday. Despite finishing Monday approximately $1 lower than the daily peaks, hogs managed to maintain a positive stance ranging from $0.32 to $2.05. The USDA’s decision to withhold the National Average Morning Base Hog price for confidentiality purposes on Monday left the market in suspense, after its last known value stood at $81.32.
Market Indicators
On the brighter side, the USDA’s National Pork Carcass Cutout Value reported an increase to $97.55 during Tuesday morning, marking a rise of 94 cents. However, the USDA’s estimate of FI hog slaughter on Monday paints a different picture, standing at 353k head, a considerable downturn compared to 484k head the previous week and 486k head during the corresponding week last year.
April 24 Hogs
The figures reveal that April 24 Hogs are currently priced at $86.525, down $0.425.
May 24 Hogs
On the other hand, May 24 Hogs are trading at $93.425, a decrease of $0.325.
June 24 Hogs
June 24 Hogs are trading at $103.200, a decrease of $0.300.
As of the publication date, Alan Brugler maintained no positions, directly or indirectly, in any securities mentioned in this article. The information and data presented here serves strictly informational purposes. For further details, please refer to the Barchart Disclosure Policy.
The viewpoints and expressions relayed in this piece are those of the author exclusively and may not necessarily align with those of Nasdaq, Inc.
