Hogs Slipping Lower on Tuesday

Lean hogs are feeling continued pressure from Monday’s weakness, with contracts down 32 to 90 cents. The USDA National Base Hog price was reported at $76.69 in the Tuesday morning report, a $4.48 drop from the day prior. The CME Lean Hog Index was $92.29 on July 26, up 44 cents from the previous day.

USDA’s FOB plant pork cutout value was up 14 cents in the Tuesday AM average carcass quote, at $106.92 per cwt. The loin, picnic and ham were all marginally lower, with the belly up $2.95. USDA estimated the Monday FI hog slaughter at 482,000 head. That is up 29,000 head from last week and 4,758 head above the same Monday a year ago.

Aug 24 Hogs are at $90.775, down $0.675,

Oct 24 Hogs are at $74.425, down $0.400

Dec 24 Hogs is at $67.225, down $0.625,

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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