Hog Bulls Holding Their Ground on Tuesday
Lean hog futures are posting higher midday trade so far on Tuesday, with contracts up 20 to 80 cents. USDA’s national average base hog negotiated price was reported at 86.53 in the Tuesday AM report. The CME Lean Hog Index was up 36 cents from the previous day on February 7 at $85.75.
The USDA FOB plant pork cutout value back down 69 cents on Tuesday morning at $98.93 per cwt. The loin and picnic primals were slightly in the red, with the belly the driver to the downside, $4.04 lower. USDA’s estimated Federally inspected hog slaughter on Monday was 491,000 head, which was 6,000 head above last Monday and up 9,522 head from the same week last year.
Feb 25 Hogs are at $88.475, up $0.775,
Apr 25 Hogs are at $91.875, up $0.250
May 25 Hogs is at $95.900, up $0.200,
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.