Hogs Look to Wednesday Following Tuesday Rally

Lean hog futures posted a Tuesday rally of 35 cents to $2.57 across most contracts. Open interest suggested short covering, down 6,057 contracts. USDA’s national base hog price was reported at $86.35 on Tuesday afternoon. The CME Lean Hog Index was back down 54 cents on September 3 at $90.54. 

USDA’s pork carcass cutout value was back down $1.04 in the Tuesday PM report, at $90.82. The picnic and rib were reported lower, with the belly back down $15.87. USDA estimated federally inspected hog slaughter for Tuesday at 483,000 head.

Oct 26 Hogs  closed at $84.250, up $1.950,

Dec 26 Hogs  closed at $75.050, up $2.575

Feb 27 Hogs  closed at $77.650, up $2.425,

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.