Hog Bulls Look to Continue Push Higher on Wednesday
Lean hog futures posted 45 to 77 point gains across the front months on Tuesday. Preliminary open interest suggested net new buying, up 7,688 contracts. USDA’s national base hog report showed negotiated price was reported at $106.37, up $1.46 from the day prior. The CME Lean Hog Index was down 26 cents on August 28 at $106.17.
USDA’s FOB plant pork cutout report from Tuesday afternoon was down 20 cents at $114.12 per cwt. The loin, picnic, and belly were the primals reported lower. USDA estimated hog slaughter for Tuesday total at 489,000 head. That was 9,000 head above last Tuesday and up 2,078 head from the same Tuesday last year.
Oct 25 Hogs closed at $95.550, up $0.525,
Dec 25 Hogs closed at $88.175, up $0.775
Feb 26 Hogs closed at $90.075, up $0.450,
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.