Hog Selling Continues at Cash and Cutout Remain Weak

Lean hog futures posted losses of $1.92 to $2.65 on the Tuesday session. New short interest was piling in, with open interest rising 6,721 contracts. USDA’s national base hog price was reported at $57.94 in the Tuesday afternoon report, down $1.52 from the day prior. The CME Lean Hog Index was down another $1.10 on October 23 at $70.06.

USDA’s pork carcass cutout value was down 71 cents in the Tuesday PM report, at $73.09. That is the lowest price since December 2020. The loin, butt, and belly primals were reported lower. Federally inspected hog slaughter for Monday was estimated 493,000 head, with the week to date total at 977,000 head. That was 13,000 head above last week after a 12,000 head lower revision to Monday and 3,184 head above of the same week last year.

Dec 26 Hogs  closed at $62.025, down $2.650,

Feb 27 Hogs  closed at $64.925, down $2.100

Apr 27 Hogs  closed at $70.325, down $1.925

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.