Hogs Weaker on Tuesday

Lean hog futures closed the Tuesday session with contracts down 40 to 60 cents in the front months. The national average base hog price was reported a $76.80 on Tuesday afternoon, up $2.33 from the day prior. The CME Lean Hog Index was reported at $84.16 on October 11, down 13 cents from the day prior. 

USDA’s FOB plant pork cutout value was reported at $94.40 per cwt in the Tuesday PM release, down 57 cents from the day prior. The rib and belly were the only primals reported higher. USDA estimated Tuesday’s FI hog slaughter at 487,000 head, bringing the weekly total at 960,000 head. That is up 5,000 head from the previous week but down 830 head from the same week last year.

Dec 24 Hogs  closed at $75.225, down $0.575,

Feb 25 Hogs  closed at $79.300, down $0.525

Apr 25 Hogs  closed at $83.800, down $0.400,

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.