Lean hog futures settled Tuesday with mixed trade, as front months were a tick to 42 cents lower with some deferreds higher. Preliminary open interest was up 7,867 contracts on Tuesday. USDA’s national base hog price was reported at $80.19 on Tuesday afternoon. The CME Lean Hog Index was up another 76 cents on Jan 16 at $81.76.
USDA’s pork carcass cutout value from the Tuesday afternoon report was 73 cents lower at $93.47 per cwt. The loin, belly, and picnic primals were reported lower. USDA estimated federally inspected hog slaughter for Tuesday at 492,000 head, taking the weekly total to 914,000. That is 72,000 head below last week but 13,430 head above the same week last year.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Feb 26 Hogs closed at $87.850, down $0.425,
Apr 26 Hogs closed at $95.175, down $0.025
May 26 Hogs closed at $99.000, up $0.275,
On the date of publication,
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.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
#Hog #Traders #Wednesday #Trade #Mixed #Tuesday #Action