Hogs Look to Wednesday Following Mixed Tuesday Trade

Lean hog futures were mixed on the Tuesday session, wi0ht contracts down $1.37 to 55 cents higher. Open interest was up 7,065 contracts, suggesting new selling interest. USDA’s national base hog price was at $75.74 in the Tuesday PM report, down $1.07 from the day prior. The CME Lean Hog Index was down another 57 cents on October 2 at $79.63. 

Census data converted to a carcass basis showed 515.88 million lbs of pork exported in August, down 4.6% from a year ago and 2.4% below last month.

USDA’s pork carcass cutout value was down $2.17 in the Tuesday afternoon report, at $86.84. The loin, rib, picnic, and ham primals were all reported lower. Federally inspected hog slaughter for Tuesday was estimated at 494,000 head, with the week to date total at 987,000 head. That was 10,000 head above last week and 17,511 head larger than the same week last year.

Oct 26 Hogs  closed at $77.925, up $0.075,

Dec 26 Hogs  closed at $70.375, down $0.575

Feb 27 Hogs  closed at $71.325, down $1.375,

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.