Hogs Falling on Tuesday
Lean hog futures are up a nickel ahead of expiration, with other contracts down $1.50 to $1.65. October futures expire today. USDA’s national base hog price from Tuesday morning was not reported due to light volume, with the 5-day rolling average at $97.31. The CME Lean Hog Index was down another 86 cents on October 10 at $98.57.
USDA’s FOB plant report from Tuesday morning showed the pork cutout back up 32 cents at $103.91 per cwt. The loin and ham were the only primals reported lower. USDA estimated federally inspected hog slaughter for Monday at 490,000 head. That is down 1,000 head from Monday and 21,624 head below than the same week last year.
Oct 25 Hogs are at $97.475, up $0.050,
Dec 25 Hogs are at $83.200, down $1.650
Feb 26 Hogs is at $85.450, down $1.525,
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.
