Hogs Look to Midweek Trade Following Tuesday’s Rally

Lean hog futures were 32 cents to $1.20 higher across the board on Tuesday. Open interest was down 3,564 contracts on Tuesday. USDA’s national base hog price was $79.90 in the Tuesday PM report, down 45 cents from the day prior. The CME Lean Hog Index was down another 60 cents on September 18 at $83.42.

USDA’s pork carcass cutout value was back down 92 cents in the Tuesday afternoon report, at $87.99. The loin, belly, and rib were the primals reported lower. Federally inspected hog slaughter for Tuesday was estimated at 491,000 head, with the weekly total at 956,000 head. That was 14,000 head below last week on a revision to Monday, and 6,606 head shy of the same week last year.

Oct 26 Hogs  closed at $79.275, up $1.125,

Dec 26 Hogs  closed at $71.000, up $1.200

Feb 27 Hogs  closed at $72.550, up $1.200,

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.