Hogs Posting Midday Strength
Lean hog futures are rallying on Tuesday, with $1.17 to $2.52 gains as the cash market is pushing higher. USDA’s national average base hog negotiated price was reported at $87.37 on Tuesday morning, up $2.95 from the previous day. The CME Lean Hog Index was up another 25 cents from the day prior at $85.71 on April 18.
The USDA pork cutout report was 31 cents higher, on Tuesday morning at $96.70. The picnic and belly primals were reported higher, with the rest heading lower. Monday’s federally inspected hog slaughter from USDA was estimated at 356,000 head. That was down 131,000 head from last week and 125,333 head below the same week last year.
May 25 Hogs are at $92.200, up $1.175,
Jun 25 Hogs are at $100.575, up $2.525
Jul 25 Hogs is at $100.525, up $2.275,
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.