Hogs Look to Wednesday Trade Following Tuesday Weakness

Lean hog futures closed the Tuesday session with contracts falling 42 cents to $1.25. Open interest was up 4,291 contracts. USDA’s national base hog price was reported at $91.02 on Tuesday afternoon, up $1.62 from the day prior. The CME Lean Hog Index was down another 40 cents on August 21 at $92.86.

USDA’s pork carcass cutout value was back down $2.26 in the Tuesday PM report, at $97.67. The rib was the only primals reported higher. USDA estimated federally inspected hog slaughter for Tuesday at 488,000 head, with the week to date total at 957,000 head. That is 3,000 head below the previous week and up 25,640 head from the same week last year.

Oct 26 Hogs  closed at $80.450, down $0.675,

Dec 26 Hogs  closed at $70.350, down $1.125

Feb 27 Hogs  closed at $73.175, down $1.250,

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.