Lean hogs are trading steady to 60 cents higher across most contracts on Tuesday’s midday. USDA’s National Average Base Hog negotiated price was up $1.77 from the Monday afternoon report at $94.18 on Tuesday morning. The CME Lean Hog Index was back down 16 cents on May 3 at $90.80.
USDA’s National Pork Carcass Cutout Value was down $1.96 in the Tuesday morning report at $97.54. The belly (-$7.97) and the loin (-$3.96) were the drivers to the downside, with all other primals higher. USDA estimated federally inspected hog slaughter for Monday at 481,000 head. That is 5,000 head above last week and up 9,570 head from the same Monday last year.
May 24 Hogs are at $92.300, up $0.125,
Jun 24 Hogs are at $98.200, up $0.025
Jul 24 Hogs is at $102.700, up $0.550,
On the date of publication, Alan Brugler 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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