Hogs Falling on Tuesday
Lean hog futures are falling at Tuesday’s midday, with contracts 97 cents to $1.50 lower. USDA’s national average base hog negotiated price was not reported on Tuesday morning, with the 5-day rolling average at $92.61. The CME Lean Hog Index was another 18 cents higher on May 2, at $89.87.
March pork exports total 641.02 million lbs according to Census data converted to a carcass basis. That was a 4-year high for the month and the third largest all time for March.
Tuesday morning’s FOB plant pork cutout value was up 73 cents/cwt on a carcass basis, at $97.39. The picnic, ham, and belly were all reported higher. Federally inspected hog slaughter from USDA was estimated 482,000 head for Monday. That was up 4,000 head from the previous week and 3,624 head above the same week last year.
May 25 Hogs are at $91.275, down $0.975,
Jun 25 Hogs are at $97.500, down $1.500
Jul 25 Hogs is at $99.125, down $1.275,
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.