Hogs Posting Tuesday Weakness

Lean hog futures down 30 to 80 cents at midday. USDA’s national base hog price was reported at $90.61 on Tuesday morning. The CME Lean Hog Index was down another 40 cents on August 21 at $92.86.

USDA released Cold Storage data on Monday, showing pork stocks at 439.43 million lbs at the end of July. That was a 3.43% decline from June but up 8.6% from a year ago.

USDA’s pork carcass cutout value was back down $2.31 in The Tuesday PM report, at $97.62. The rib and ham were the only primals reported higher. USDA estimated federally inspected hog slaughter for Monday at 490,000 head. That is 6,000 head above the previous week and up 48,244 head from the same week last year.

Oct 26 Hogs  are at $80.925, down $0.200,

Dec 26 Hogs  are at $70.950, down $0.525

Feb 27 Hogs are at $73.650, down $0.775,

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.