Lean hog futures posted Tuesday gains of 32 to 62 cents at the close. Open interest implied some modest new length coming in, up 2,236 contracts. USDA’s national base hog price was reported at $99.65 on Tuesday afternoon, up 20 cents from the day prior. The CME Lean Hog Index was down 55 cents on July 31 at $97.68.
Pork exports converted from Census data to a carcass basis showed June shipments a 540.19 million lbs. That was a 3.2% drop from last year and 10.3% below May.
USDA’s pork carcass cutout value was down $1.08 in the Tuesday PM report, at $99.83. All primals were reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 483,000 head, taking the weekly total to 901,000 head. That is 29,000 head above the previous week and 7,649 head below the same week last year.
Aug 26 Hogs closed at $97.850, up $0.325,
Oct 26 Hogs closed at $84.350, up $0.675
Dec 26 Hogs closed at $75.775, up $0.425,
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.
