Hogs Rally on Tuesday

Lean hog futures saw gains of $1.20 to $2 across most nearby contracts on Tuesday. Deferreds were up a tick to 75 cents. 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.

USDA’s FOB plant pork cutout report from Tuesday afternoon was back down 62 cents at $112.68 per cwt. The rib and ham primals were the only reported higher. USDA estimated federally inspected hog slaughter on Tuesday at 489,000 head, taking the weekly total to 979,000. That was up 1,000 head from last week and 9,669 head above the same week last year.

Oct 25 Hogs  closed at $100.525, up $1.725,

Dec 25 Hogs  closed at $90.725, up $1.975

Feb 26 Hogs  closed at $91.925, up $1.225,

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. This article was originally published on Barchart.com