Lean hogs are posting stead to 50 cent higher trade action so far on Tuesday. The USDA National Base Hog price was reported at 78.97 in the Tuesday AM print, down $3.08 from the previous day. The CME Lean Hog Index was $93.59 on August 2, down 5 cents from the previous day.
Census data converted to a carcass basis showed exports at 524.1 million lbs during June, which was a 4-year low for the month and down 10.4% from May.
USDA’s FOB plant pork cutout value was up $1.44 in the Tuesday morning quote, at $105.72 per cwt. All primals were reported higher, with the butt the lone exception, down 21 cents. USDA estimated the Monday FI hog slaughter at 411,000 head. That is down 62,000 head from last week and 7,332 head below the same week a year ago.
Aug 24 Hogs are at $91.650, up $0.500,
Oct 24 Hogs are at $76.850, up $0.275
Dec 24 Hogs is at $69.325, unch,
On the date of publication, Alan Brugler 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.