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Barchart
Barchart
Austin Schroeder

Hogs Shift Focus to Wednesday Trade After Tuesday Rally

Lean hog futures posted gains of $1.20 to $2 across most nearby contracts on Tuesday. Deferred contracts were up a tick to 75 cents. Preliminary open interest was down 5,591 contracts, suggesting some shorts were covering. USDA’s national base hog prices from the Tuesday PM report was at $106.99, up 16 cents from the day prior. The CME Lean Hog Index was down another 36 cents on September 19 at $104.98. 

NASS will release their quarterly Hogs & Pigs report on Thursday, with September 1 inventory seen up 0.3% from last year. Hogs kept for breeding are expected to be down 0.5%, with market hog inventory seen up 0.3%.

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