Hogs Look to Tuesday Trade

Lean hogs settle the Monday session with contracts closing within 35 cents of unchanged in the nearbys. The USDA Daily Direct Hog report from the afternoon showed negotiated prices down $1.05 to $82.48. The CME Lean Hog Index was $91.90 on August 8, down 90 cents from the previous day.

This month’s WASDE update showed US pork production at 24.048 billion lbs in 2024, a 91 million lb drop from last month.

USDA’s FOB plant pork cutout value was up $1.61 in the Monday afternoon report at $100.27 per cwt. The picnic and ham primals were lower, while belly was the strongest component of the day, up $5.94.  USDA estimated the Monday FI hog slaughter at 483,000 head. That is up 72,000 head from last week and 17,422 head above the same week a year ago.

Aug 24 Hogs closed at $90.025, up $0.225,

Oct 24 Hogs closed at $74.325, up $0.350,

Dec 24 Hogs closed at $66.075, down $0.225,

On the date of publication, Alan Brugler 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.

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