Hogs Slip Back on Monday
Lean hog futures saw losses of 30 to 70 cents across most contracts on Monday. USDA’s national average base hog negotiated price was reported at $89.96 on Monday afternoon, a $1.55 drop from the day prior. The CME Lean Hog Index was another 12 cents higher for May 1, at $89.69.
Monday afternoon’s FOB plant pork cutout value was down $1.72/cwt on a carcass basis, at $96.66. All primals excluding the rib were quoted lower. Federally inspected hog slaughter from USDA was estimated 482,000 head for Monday. That was up 4,000 head from the previous week and 3,624 head above the same week last year.
May 25 Hogs closed at $92.250, down $0.700,
Jun 25 Hogs closed at $99.000, down $0.350
Jul 25 Hogs closed at $100.400, down $0.300,
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.