Hog Closes in the Red on Tuesday
Lean hog futures closed out the Tuesday session with contracts down 7 to 47 cents. The national average base hog negotiated price was reported at $78.89 on Tuesday afternoon, down 76 cents from the day prior. The CME Lean Hog Index was reported at $82.01 on January 3, down $1.11 from the previous day.
Pork exports during November totaled a monthly record 643.5 million lbs, according to converted (to a carcass basis) Census data. That was up 5.9% from last year and 10.4% larger than October’s total
USDA’s FOB plant pork cutout value was back up 57 cents in the Tuesday PM report at $88.40 per cwt. The loin and picnic were the only primals reported lower. Federally inspected hog slaughter on Tuesday was estimated at 487,000 head, with the weekly total at 934,000 head. That was up 42,000 head from last week and 90,078 head above the same week last year.
Feb 25 Hogs closed at $79.175, down $0.475,
Apr 25 Hogs closed at $85.725, down $0.150
May 25 Hogs closed at $90.625, down $0.075,
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.