Hogs See Monday Bounce, Look to Tuesday Action
Lean hog futures were mixed on Monday, with the front months leading the charge higher, up 7 to 82 cents. October futures expire on Tuesday. USDA’s national base hog price from Monday afternoon was reported at $92.29, down $4.11 from the day prior. The CME Lean Hog Index was down another 65 cents on October 9 at $99.43.
USDA’s FOB plant report from Monday afternoon showed the pork cutout down 83 cents at $103.59 per cwt. The loin and belly were the only primals reported higher. USDA estimated federally inspected hog slaughter for Monday at 490,000 head. That is down 1,000 head from Monday and 21,624 head below than the same week last year.
Oct 25 Hogs closed at $97.425, up $0.425,
Dec 25 Hogs closed at $84.850, up $0.825
Feb 26 Hogs closed at $86.975, up $0.675,
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.