Hogs Post Gains on Tuesday
Lean hog futures posted $1.07 to $1.75 against on Tuesday with April down 35 cents. The USDA national average base hog negotiated price was down 23 cents from the day prior at $88.26 in the Tuesday PM report. The CME Lean Hog Index was down another 28 cents from the previous day on March 28 at $88.50.
The Tuesday morning pork cutout print from USDA was down $1.94 at $95.51 per cwt. The rib and picnic were the only primals reported higher. USDA estimated the Tuesday Federally inspected hog slaughter at 489,000 head, with a weekly total at 953,000 head. That is down 10,000 head from last week and 104,871 head above the same week last year.
Apr 25 Hogs closed at $87.375, down $0.350,
May 25 Hogs closed at $89.475, up $1.075
Jun 25 Hogs closed at $97.025, up $1.750,
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.